May 8, 2018 / 11:41 AM / a year ago

Moody's says Australia's budget a positive for fiscal outlook

SYDNEY, May 8 (Reuters) - Moody’s Investors Service said on Tuesday Australia’s 2018/19 budget is a positive step in improving the country’s fiscal outlook, provided underlying assumptions hold.

Reacting to the Liberal-National government’s 2018/19 budget, Moody’s said Australia’s current triple-A sovereign rating continues to reflect its strong institutions, solid growth potential and resilience.

However, a risk remains that the expectations for commodity prices are optimistic and uncertainty persists on whether wages growth will pick up significantly enough to support revenues, Moody’s said in a statement. (Reporting by Swati Pandey; Editing by Richard Borsuk)

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