Australian Government, 2013-14 Budget

Statement 7: Asset and Liability Management

The Australian Government's financial position remains amongst the strongest in the developed world and Australia is one of only eight countries to have a AAA credit rating with a stable outlook from all three major rating agencies.

This very strong balance sheet position continues to provide the Government with the capacity and flexibility to respond to unanticipated adverse events and longer‑term challenges.

The Australian Government's net debt position remains very low by international standards, notwithstanding the large further write‑down to tax receipts contributing to an increase in net debt since the 2012‑13 Budget. Australia's net debt levels will remain less than one‑eighth of the level in major advanced economies.

In this Budget, the Government maintains its commitment to a liquid and efficient Commonwealth Government Securities market.

A detailed balance sheet for the Australian Government general government sector is provided in Statement 9: Budget Financial Statements.

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