Outlook On Australia Revised To Stable On Better Fiscal Prospects; Ratings Affirmed At 'AAA/A-1+'

Ratings: Foreign and Local Currency U: AAA/Stable/A-1+ For further details see Ratings List. OVERVIEW We expect the general government fiscal position to return to surplus by the early 2020s, as the central government's continued focus on fiscal prudence turns higher revenue collection into better budget performance. We view the government as having significant revenue flexibility to achieve this based on its track record of raising general government revenue faster than the growth of nominal GDP. We are revising our outlook on Australia to stable from negative and affirming our 'AAA' long-term and 'A-1+' short-term ratings. The stable outlook reflects our expectations that the general government fiscal balance will return to surplus by the early 2020s. We expect steady government revenue

...Ratings: Foreign and Local Currency |U: ###/Stable/A-1+ For further details see Ratings List. OVERVIEW + We expect the general government fiscal position to return to surplus by the early 2020s, as the central government's continued focus on fiscal prudence turns higher revenue collection into better budget performance. We view the government as having significant revenue flexibility to achieve this based on its track record of raising general government revenue faster than the growth of nominal GDP. + We are revising our outlook on Australia to stable from negative and affirming our '###' long-term and 'A-1+' short-term ratings. + The stable outlook reflects our expectations that the general government fiscal balance will return to surplus by the early 2020s. We expect steady government revenue growth supported by the strong labor market and relatively robust commodity prices, to be accompanied by expenditure restraint. We also expect property prices to continue their orderly unwind, and...

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