Australian Prime Minister Anthony Albanese has brushed aside concerns that Labor라이브 바카라 election spending pledges could put the nation라이브 바카라 coveted AAA sovereign credit rating at risk.
Sovereign credit ratings are an indication of a country's creditworthiness. The highest rating means a country can borrow at cheaper rates.
The warning came from credit agency S&P Global, which this week noted that Australia라이브 바카라 public spending had reached “post-war highs.” In a statement reported by the BBC, the agency cautioned that both major parties risk undermining the country라이브 바카라 top-tier credit status unless they introduce credible savings measures.
With the federal election set for 3 May and cost-of-living pressures dominating voter concerns, both Labor and the opposition Coalition have promised multi-billion dollar investments in housing, healthcare, and energy.
Speaking to reporters on April 29, Albanese defended his government라이브 바카라 fiscal record, stating that Labor had delivered “responsible economic management.” He took aim at the S&P report, saying its authors “must have been beside themselves,” and pointed to a turnaround in the national budget: “The Coalition left us with a A$78 billion deficit—we turned that into a $2 billion surplus.”
Despite the campaign commitments, S&P warned that long-term “structural deficits” and global economic volatility could erode Australia's AAA rating—the highest level of creditworthiness, which allows nations to borrow money at lower interest rates.
Only 11 countries currently hold a AAA rating from S&P, including Australia, Germany, and Denmark—placing Australia above the US and UK in terms of financial trustworthiness.
On the same day as S&P라이브 바카라 warning, the Labor government released its costs plan.
If re-elected, it pledged to cut $6.4 billion by reducing reliance on consultants and raise $760 million through higher student visa application fees.
