The growth rate of Australia’s population has reached 1.6% and is now ranked as the highest among nations in the developed world. This rate is double of what is obtainable in the United Kingdom and the United States. Estimations made by the Bureau of Statistics for Australia (ABS) based on compiled data had revealed that the population of Australia would not reach a higher cap limit of 26.4 million people or a lower cap limit of 23.5 million people until 2051. The country’s population, however, nullified this estimation by hitting 25 million people in August 2018. Figures from the ABS shows that in 2018, the number of Permanent Immigrants in Australia reached a record high level of 832,560 immigrants who decided to permanently stay in Australia, thus rising by 7.1% in comparison to the previous year (2017). In 2017, there had also been a record-breaking number of new Permanent Residents, having 539,000 intakes. Statistics also showed that the nation recorded its highest net migration for the past four and a half years in 2018, as 291,250. The latest ABS analysis which was released last week disclosed to the general public that as at 2016, there were 1.5 million temporary residents in Australia, and 27% of them lived in Sydney while another 24% lived in Melbourne. Also, 14% of them permanently stayed in Brisbane. These new figures were put forward about three months after the Prime Minister of Australia, Scott Morrison who was formerly an immigration minister, pledged that a reduction in the rate of immigrant intake will be affected and that there would be improvements made to the management strategy of the population growth of the country. Speaking as an ex-treasurer, the Prime Minister emphasized the importance of population growth to the economic enhancement of Australia.
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