The latest S&P Global outlook for NSW reaffirmed the state’s ‘AA+’ credit rating and upgraded the state’s outlook — the first Australian state to improve its outlook by S&P in three years.
On Friday, NSW Treasurer Daniel Mookhey said the credit rating agency based its decision to move NSW from ‘negative’ to ‘stable’ on the government’s “excellent financial management” of the state and its “highly diversified economy”.
“Our strong balance sheet is not only a platform for growth but also a foundation to support families through this cost-of-living crisis,” Mookhey said, noting that more work was still to be done to build up the economy.