The ACT retains its AAA credit rating, thanks to low unemployment, high household income and strong population growth.
The evaluation was conducted by ratings company ''Standard and Poor's''. The company's report said the following:
“The Australian Capital Territory is budgeting for a relatively large infrastructure program over the next few years, but we expect its fiscal metrics to remain strong and its growth in debt to be manageable.
“Our ratings on the ACT are underpinned by its robust financial management, high-income economy, and exceptional level of liquidity.”
The ACT government is expected to announce a comprehensive plan on infrastructure projects for Canberra's centre and suburbs, in the following weeks.
Canberra City Centre, View from Mount Ainslie, Australian Capital Territory Source: Getty Images
