The latest Australian government budget release drew positive comments from Moody’s rating agency, who stated that Australia’s latest budget shows a commitment to fiscal consolidation, and the budget underscores Australia’s overall fiscal strength, lending key support to the country’s sovereign credit profile.
Australia’s budget, which expects GDP growth of 3% through FY 2019 and remaining steady through the 2021-22 years, as well as a positive revision in government surplus estimates, drew a negative outlook reading from the S&P rating agency.
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