Australia's parliament set to pass huge stimulus plan as S&P lowers 'AAA' outlook | Malay Mail

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SYDNEY, April 8 ― Australia's coveted “AAA” rating came under a cloud on Wednesday as the country's parliament returned to pass an emergency A$130 billion (RM565.14 billion) stimulus package to help cushion the blow to the economy from the coronavirus pandemic. Australia's government has so...

Wednesday, 08 Apr 2020 10:43 AM MYT

Australia's government has so far pledged A$320 billion in fiscal support as the coronavirus pandemic shuts companies and leaves many unemployed. A triple-A credit rating is given to only a select group of countries with the strongest finances in the world. The rating means a country can easily meet its financial commitments and have the lowest risk of default.

“When Australian lives and livelihoods are threatened, when they are under attack, our nation's sovereignty is put at risk, and we must respond,” he added. Australian police said they will ensure social distancing and travel restrictions are enforced during the upcoming long Easter weekend as the national death toll from the coronavirus reached 50.

 

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