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24 Mar Australia’s Queensland to Launch USD1.8bn Projects with Social and Economic Priority
The Australian state of Queensland will launch a USD1.8bn project for the state’s southeast region to improve its local transport network and digital network, as reported by ABC News on March 21. The investment is expected to produce over 2,000 jobs, with capital support from the federal and state governments, as well as the Council of Mayors of South East Queensland. Of the USD1.8bn investment, over USD100m will be allocated to improving local waste management, USD70m to upgrading infrastructure and digital connections, and USD285m to social and economic priority projects.
As the population of southeast Queensland continues to grow, the state of Queensland saw such investment as necessary. Queensland’s population increased by 0.9% to 5.2m people within the 12 months before the end of March last year, at a rate much faster than that of the country’s population growth, which was roughly over 0.1%. Notably, Australia’s population growth rate is unusually high in comparison to other nations. Between 2006 and 2016, Australia’s population increased by 3.75m people, or 1.7% every year. During the same period, developed countries like New Zealand, Canada, and the US witnessed an average yearly population increase of 0.3%, while the world population rose at an average of 1.2%.