Ratings agency Fitch says the federal budget implies a faster reduction in the deficit than its forecasts had projected but the group has withheld further comment ahead of a full assessment.
Fitch director of Asia-Pacific sovereigns Mervyn Tang said the government's plan not to proceed with unlegislated budget repair measures did not affect the ratings agency's fiscal forecasts.
"Fitch will make an assessment of the broader impact of new policy measures on the economy and housing market, factors we have identified as rating sensitivities in our previous review," he said in a statement.
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