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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

  • Published: 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 READ MORE >

Australia (Commonwealth of) (Unsolicited Ratings)

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