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Increasing Age-Related Spending Could Weaken Australia's Long-Term Credit Quality, Says S&P Report Oct 10 Product Image

Increasing Age-Related Spending Could Weaken Australia's Long-Term Credit Quality, Says S&P Report Oct 10

  • ID: 2092083
  • October 2010
  • Region: Australia
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) Oct. 12, 2010--Australia's aging population, combined with a shrinking workforce, could create future spending pressures that may undermine the country's long-term fiscal position, Standard & Poor's Ratings Services said in a report published today. The report titled, "Global Aging 2010: Australia", is part of a global study that updates Standard & Poor's 2007 study on the sustainability of public finances in the light of demographic change. "We expect total age-related spending on health, pensions, and aged care to rise to 14.4% of GDP in 2050, from 9.6% in 2010," Standard & Poor's analyst Kyran Curry said. "Without further reforms to address these mounting spending pressures, net general government debt could increase to 71% of GDP over...

Companies mentioned in this report are: Australia (Commonwealth of) (Unsolicited Ratings)
Action: General Comment

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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Australia (Commonwealth of) (Unsolicited Ratings)

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Note: Product cover images may vary from those shown

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