Australia Retains Moody’s AAAKoffels
Australia – One Of Only Ten (10) Countries to Retain Moody’s AAA Rating
Australia continues to be a standout in a world fraught with a complexity of issues never before faced. Moody’s Investors Service has maintained a stable outlook for Australian Government finances going forward as Australia retains Moody’s AAA rating.
Australia’s economic strength, governance and health management during the pandemic has shown resilience. Although it is forecast to see the economy shrink by 5% this year, the government’s $150 billion spending budget to address the Covid-19 impact, should mitigate a severe downturn. In contrast, updated economic outlooks expect the world’s richest economies to contract by 8% this year.
The anticipated fall in GDP is anticipated to be less than that experienced in other advanced economies and there is a forecast for growth in the following year. While the S&P warned of a negative outlook their rating has also been maintained, with Australia as one of only 10 countries to have a AAA rating from all three major agencies, joining Canada, Singapore, Germany and Norway. Australia is tipped to out-perform its’ peers with only South Korea expected to do better.
With the IMF issuing dire warnings as to the global economy and the effects of the pandemic, Australia is looking to be a worthy consideration for investors and those wishing to start up in jurisdictions such as Australia’s, that have a strong prognosis for recovery and growth in the years to come. Combined with stable government, well regarded legal systems, high education standards and a quality lifestyle; Australia is becoming an increasingly attractive destination for businesses.
Koffels Solicitors & Barristers are highly experienced corporate/commercial lawyers in the field, having assisted businesses from across the globe through the processes of M&A and set-up in Australia. As a full service firm across issues of corporate compliance, tax, employment, immigration and investment regulations we give personalised, focused attention to the individual needs of our clients, and subsequent ongoing support for their business concerns
Decisions as to jurisdictional work environments have never been more important, and Australia is proving itself to be a worthwhile consideration for both business and investors during these tumultuous times.
For those wishing to have further information on how to achieve investment goals in Australia, we will be pleased to assist. Please do not hesitate to contact us using the form below or call Ross Koffel on +61 (0)2 9283 5599.