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The Australian government announced plans to invest A $ 75 billion in major infrastructure projects over the next 10 years, including extensive inland railways and the possibility of acquiring more benefits from the Snow Hydro Scheme in an attempt to open Australia's next growth stage.

"In support of growth, we chose to invest in building Australia, a railroad, airport runway and roads," Australian Treasury Secretary Scott Morrison said in a budget speech to Congress.

Since the global financial crisis, Australia's economic growth has been better than many other developed countries; but in recent years, mining investment boom to make stable economic growth is challenged.

Morrison pointed out that long-term investment projects will be long-term investment in Australia.

Craig James, chief economic analyst at Commonwealth Bank Securities (CommSec), said before the budget release, the increase in infrastructure spending will boost developers and contractors, engineering and building materials business activities.

"Broad infrastructure spending across the country will also benefit many in many ways - boosting the economic dynamics of cities and regions," James said.

The budget is expected to grow at a rate of 2.75 per cent in Australia in 2017/18 and to 3 per cent in 2020/21. Prior to the Bank of Australia is expected in mid-2018 to June 2019, GDP growth rate will be between 2.75-3.75%.

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