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Australia to keep AAA rating despite MYEFO

Two credit ratings agencies are confident Australia can retain its AAA credit rating.

The government’s latest financial update shows the Budget bottom line will worsen over the next three years, but a surplus is still predicted for 2021. 

Ratings agencies Moody’s and Fitch say the numbers are consistent with maintaining a AAA rating.

Finance Minister Mathias Cormann is confident the economic situation will improve.

He spoke with Oliver Peterson. 

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