S&P claims that Australia’s fiscal outcomes are improving. Stocksak

© Stocksak. FILE PHOTO – View of a construction site on the Sydney Metro, Australia July 22, 20,21. REUTERS/Sam Holmes

SYDNEY (Stocksak) – Australia’s improved fiscal outcomes from a strong economy and high commodity prices underpin its AAA sovereign rating, S&P Global (NYSE:) said on Tuesday, after the new labour government unveiled its first budget.

“We are confident that the budget will not significantly increase inflationary pressures. The budget reprioritizes previously allocated funding to the new government’s policy agenda and limits new spending in the immediate future,” Anthony Walker, a Director at S&P Global Ratings, said.

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