Albanese Dismisses Fears Over Threat To Australia바카라�s Top Credit Rating

Australian Prime Minister Anthony Albanese has brushed aside concerns that Labor바카라�s election spending pledges could put the nation바카라�s 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 Australia바카라�s public spending had reached 바카라�post-war highs.바카라� In a statement reported by the BBC, the agency cautioned that both major parties risk undermining the country바카라�s 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 government바카라�s fiscal record, stating that Labor had delivered 바카라�responsible economic management.바카라� He took aim at the S&P report, saying its authors 바카라�must have been beside themselves,바카라� and pointed to a turnaround in the national budget: 바카라�The Coalition left us with a A$78 billion deficit바카라�we turned that into a $2 billion surplus.바카라�

Despite the campaign commitments, S&P warned that long-term 바카라�structural deficits바카라� and global economic volatility could erode Australia's AAA rating바카라�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 Denmark바카라�placing Australia above the US and UK in terms of financial trustworthiness.

On the same day as S&P바카라�s 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.