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Data has shown that the economy has continued to expand in the first three months of this year but at a slower pace than expected. It grew by 0.6 per cent in the March quarter or 2.5 per cent year on year, which is its slowest rate of growth since late 2011.The currency and the share market dived on the news and it seems to be another signal of the fading mining boom. Source: abc.net.au
The NSW budget was delivered yesterday by Treasurer Mike Baird. He announced more than $1 billion in cuts. While we know they will come from public service jobs and other programs, the government is refusing to identify exactly where the cuts will be, or who will lose their jobs.
The ceasefire in Syria appears to be holding, but while the current situation is encouraging, the Syrian government has still not met all its commitments. The UN Security Council is discussing how to deploy international observers on the ground to monitor the implementation of Special Envoy Kofi Annan's six-point plan.