...MELBOURNE (S&P Global Ratings) April 5, 2019--S&P Global Ratings today said that the Commonwealth of Australia's (###/Stable/A-1+) fiscal position should return to surplus in the early 2020s, despite economic headwinds, and even after large infrastructure spending at the state government level keeps the general government balance in deficit until fiscal 2021. That's according to our updated analysis, "Australia," published today by S&P Global Ratings. We expect the general government budget to achieve a surplus in fiscal 2021, because, unlike the central government's budget surplus in fiscal 2020, we include state and local government spending. We believe the upcoming federal election will not significantly change the trajectory of Australia's budgetary position. The aim for budget surplus has been consistent across different ruling parties and leaders for a number of years. Along with its strong institutions, a credible monetary policy, and floating exchange-rate regime, Australia's public...
