{"id":6655,"date":"2020-05-22T07:52:13","date_gmt":"2020-05-22T07:52:13","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=6655"},"modified":"2020-05-22T07:52:13","modified_gmt":"2020-05-22T07:52:13","slug":"aaa-credit-rating-reaffirmed-by-fitch","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2020\/05\/22\/aaa-credit-rating-reaffirmed-by-fitch\/","title":{"rendered":"AAA Credit Rating Reaffirmed By Fitch"},"content":{"rendered":"
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\nAustralia\u2019s AAA credit rating has been reaffirmed by Fitch in an expression of confidence in the Morrison Government\u2019s handling of the coronavirus crisis and our demonstrated record of economic management and in the words of Fitch \u201ccommitment to fiscal prudence.\u201d
\nIn its report, Fitch notes that Australia\u2019s \u201ceffective macroeconomic policy framework, has supported a long record of stable economic growth prior to the current exogenous shock\u201d and that \u201csubstantial fiscal and monetary policy stimulus\u201d has been put in place \u201cwhich should soften the shock and support the economic recovery.\u201d
\nToday\u2019s report confirms Australia as one of only 10 countries with a AAA credit rating from all three major ratings agencies.
\nFitch recognises the \u201csignificant impact the global coronavirus pandemic has on Australia’s economy and public finances\u201d and has put our AAA rating on a negative outlook.
\nFitch\u2019s action today, in reaffirming our AAA rating, is a reminder of the importance of maintaining our commitment to medium term fiscal sustainability.
\nOur disciplined economic and budget management saw the Federal Budget return to balance for the first time in 11 years and the Budget was on track to achieve a surplus in 2019-20 before the COVID-19 outbreak.
\nOur measures are temporary, targeted and proportionate to the challenge we face and will ensure Australia bounces back stronger on the other side, without undermining the structural integrity of the Budget which Australians have worked so hard to restore.\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n