Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

Let us be clear: we are not out of all the difficulties potentially at this stage. But international credit rating agencies have reaffirmed Australia’s AAA credit rating and they say that we have one of the strongest balance sheets in the advanced world. Standard & Poor’s say:

We believe the deficits and associated borrowings do not alter the sound profile of the country’s public finances.