Original article by Cecile Lefort
The Australian Financial Review – Page: 26 : 24-May-23

Fitch Ratings expects the Australian economy to expand by just 1.5 per cent in 2023, slightly below the Reserve Bank’s forecast of 1.7 per cent growth. However, Fitch contends that the domestic economy is better-placed than most developed nations to cope with rising borrowing costs and slowing economic activity; this includes the other 10 nations that still have an AAA rating from the three major rating agencies. Fitch cites a number of factors in Australia’s favour, including a high level of household savings in the wake of the pandemic, exports to China and an increase in net overseas migration in coming years.

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