Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 23-Nov-16

Craig Michaels of S&P Global Ratings says the Federal Government must return the Budget to surplus by 2020-21 if Australia is to retain its triple-A credit rating. He warns that a rating downgrade is possible if a return to surplus is further delayed, noting that a surplus had been forecast by the former Australian Labor Party government for 2012-13. Michaels also notes the domestic economy’s high reliance on foreign lenders continuing to finance the structural current account deficit.

CORPORATES
S&P GLOBAL RATINGS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, DELOITTE ACCESS ECONOMICS PTY LTD, McKINSEY AND COMPANY, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, RESERVE BANK OF AUSTRALIA