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/RATINGS: S&P Affirm Australia At AAA; Outlook Changed To Stable From Negative

AUSTRALIA
  • The government's swift and decisive fiscal and health response to contain the pandemic and limit long-term economic scarring has seen the economy recover quicker and stronger than we previously expected.
  • We are more confident that the general government's fiscal deficits will narrow toward 3% of GDP during the next two to three years after a 10% deficit in fiscal 2021.
  • The government's policy response and strong economic rebound have reduced downside risks to our economic and fiscal outlook for Australia. As a result, we are revising the outlook to stable and affirming our AAA/A-1+ long- and short-term local and foreign currency ratings.
  • Australia has a strong track record of managing major economic shocks, moderating our concern over its high level of external and household debt.
  • Click for full report.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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