Print Edition - 2018-09-22  |  Money Digest

Ratings agency upgrades Aussie debt outlook


Sep 22, 2018-

Global ratings agency Standard and Poor’s on Friday raised Australia’s debt outlook from “negative” to “stable” and maintained the country’s sovereign credit rating at “AAA”. “We expect the general government fiscal position to return to surplus by the early 2020s, as the central government’s continued focus on fiscal prudence turns higher revenue collection into better budget performance,” the agency said in a statement. The slowdown in property prices was also not expected to weigh heavily on consumer spending and the financial system in general, according to the agency’s analysts. “Australia’s weak external position means that its other sovereign credit factors need to be strong to keep the sovereign rating at the highest level on our scale,” S&P added. (XINHUA)


Published: 22-09-2018 08:49

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