{"id":40815,"date":"2026-09-12T16:21:45","date_gmt":"2026-09-12T06:21:45","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=40815"},"modified":"2026-09-12T16:21:45","modified_gmt":"2026-09-12T06:21:45","slug":"sp-global-upgrades-new-south-wales-outlook","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2026\/09\/12\/sp-global-upgrades-new-south-wales-outlook\/","title":{"rendered":"S&amp;P Global upgrades New South Wales Outlook"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The decision of S&amp;P Global to upgrade its outlook for New South Wales to Stable and reaffirm its AA+ credit rating is a strong endorsement of the Minns Labor Government\u2019s responsible economic stewardship.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">S&amp;P Global credited the Government\u2019s \u201cexcellent financial management\u201d for the upgrade and noted the state\u2019s \u201chighly diversified economy\u201d in support of its decision.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For four Budgets, we have made consistent and careful decisions to improve the state\u2019s fiscal position.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>We have delivered the biggest budget turnaround in the state\u2019s history<\/li>\n\n\n\n<li>Debt is nearly $10 billion lower than the former Liberal National Government had projected<\/li>\n\n\n\n<li>We have sought out and cut wasteful spending<\/li>\n\n\n\n<li>The year before Labor was elected, NSW ran a record deficit of $15.3 billion<\/li>\n\n\n\n<li>The deficit is down to $2.3 billion in 2026-27 and a surplus of $1.1b is forecast next financial year<\/li>\n\n\n\n<li>In the first 3 years of the Minns Government expenses growth has been kept to just 3.7%, the lowest of any state.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Today\u2019s decision shows why that record matters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NSW stands alone<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We know there is more to do but NSW is the first Australian state in three years to have its credit outlook improved by S&amp;P &#8211; a distinction earned through fiscal discipline during a period of global economic uncertainty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We have restrained spending while protecting essential services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We have reduced our reliance on debt to fund infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We have repaired the Budget, while continuing to invest in housing, schools, hospitals and transport.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And we have done it through successive global economic shocks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This week global ratings agency Fitch affirmed its Triple-A credit rating for NSW.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The state also holds a Triple-A rating with Moody\u2019s.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Treasurer Daniel Mookhey said:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis decision confirms NSW is on the right track, and is a credit to the people, businesses and workers who keep this state growing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cBut we know there\u2019s more work to be done.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWorking families are doing it tough and they want to know their Government is taking as much care of the state\u2019s finances as they are with their household budget.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOur strong balance sheet is not only a platform for growth but also a foundation to support families through this cost-of-living crisis.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Minister for Finance Courtney Houssos said:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cInvestors and businesses are taking note of this Government\u2019s responsible economic management.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe careful and at times difficult decisions we have made are improving the state\u2019s long-term outlook.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn an uncertain world, NSW, under Labor, offers something increasingly valuable: stability, discipline and confidence.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decision of S&amp;P Global to upgrade its outlook for New South Wales to Stable and reaffirm its AA+ credit rating is a strong endorsement of the Minns Labor Government\u2019s responsible economic stewardship. S&amp;P Global credited the Government\u2019s \u201cexcellent financial management\u201d for the upgrade and noted the state\u2019s \u201chighly diversified economy\u201d in support of its &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2026\/09\/12\/sp-global-upgrades-new-south-wales-outlook\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;S&amp;P Global upgrades New South Wales Outlook&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40815","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/40815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=40815"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/40815\/revisions"}],"predecessor-version":[{"id":40816,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/40815\/revisions\/40816"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=40815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=40815"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=40815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}