Our debt pile grows at world-record pace

Original article by David Uren
The Australian – Page: 4 : 5-Mar-18

Data from the OECD shows that Australia is one of just 10 advanced economies that have increased their debt by more than six per cent of GDP since 2012. The combined debt of Australia’s federal and state governments has increased by 12 per cent of GDP over the last five years. In contrast, New Zealand has reduced its debt by nine per cent over this period. Meanwhile, the average repayment term for Australia’s debt has risen from less than six years prior to the global financial crisis to nearly eight years.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY. OFFICE OF FINANCIAL MANAGEMENT, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

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