Australia’s two biggest states will struggle to return their budgets to surplus as the economy sags under central bank rate hikes, according to Moody’s
Australia’s two biggest states will struggle to return their budgets to surplus as the economy sags underthat also sent government borrowing costs soaring, according to ratings agency Moody’s Investors Service.
“New South Wales and Victoria, which were most heavily impacted by COVID-19, continue to suffer from the lingering fiscal impact as they both look to manage the delivery of their respective election spending commitments, sticky cost pressures and higher residual debt burdens,” John Manning, senior credit officer at Moody’s, wrote in a report this week. Western Australia and Queensland enjoy windfall revenue gains underpinned by strong high commodity prices.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Colorado breweries win impressive 33 medals at national beer competitionThe biggest winner from the Centennial State was Bull & Bush Brewery.
Read more »
Explainer: What is at stake for the United States in Niger?Soldiers in Niger declared a military coup on Wednesday, overthrowing President Mohamed Bazoum. The landlocked nation, a key U.S. ally in the region, has received millions in assistance from Washington.
Read more »
Biggest names on the MLB trade market with Shohei Ohtani off the tableWith Shohei Ohtani off the market, here’s the new list of buzz-worthy players this deadline, along with their trade chances.
Read more »
Russian Elites Are Transforming Thailand’s Biggest Island as They Become More Unwelcome in the WestWith luxury villas flying off the market, Phuket is fast becoming the go-to destination for Russia's affluent.
Read more »
These are the states where high earners are movingInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Column: As El Cholo celebrates 100 years, its biggest celebrity fan spills the beansIn a city where celebrities proclaim favorite restaurants with signed photos or TikTok reels, Michelle Phillips' relationship with El Cholo stands out.
Read more »