Australia’s economy boosted by AAA rating

A bit of good news for the Australian economy this morning, with a global ratings agency re-confirming our AAA rating.

Moody’s says we’re doing better than other advanced countries during the Covid-19 crisis, despite the nation’s first recession in nearly 30 years.

Federal Treasurer Josh Frydenberg has told The Today Show that this is good news for the nation.


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“The announcement by the credit rating agency Moody’s is a real vote of confidence in the Australian economy.

“They have appraised our effective and proactive policy making as well as acknowledging the resilience of the Australian economy, and Moody’s announcements follow announcements by Fitch and Standard & Poor’s, two other credit rating agencies who have affirmed Australia’s AAA credit rating.

“We continue to provide the economic support required for the economy at this very difficult time, some 260 billion dollars, and 3.5 million workers are benefiting from JobKeeper as well as hundreds of thousands of other businesses are benefiting from our other programs.

“We’ll continue to provide the support that is necessary and we are undertaking that review of JobKeeper as we speak,” Mr Frydenberg said.

But he stopped short of detailing exactly who will benefit from the next round of stimulus, which is set to be unveiled on June 23.

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