australia: Economist and keen budget watcher Chris Richardson believes its a 50/50 call on Australia retaining its rating, while former Liberal leader and professor of economics John Hewson expects the government will just do enough to retain the rating until next year's May budget, according to Nine News Australia. Senator Cormann wasn't prepared to second guess what the agencies will do. But it remains to be seen whether his and Treasurer Scott Morrison's budget forecasts in Monday's update are about to gamble away Australia's top-tier triple-A rating. But he said the agencies were particularly looking at the parliament's attitude and approach to the government's budget plan, and was quick to point out again the 22 billion of savings implemented since the July 2 election. We are clearly heading in the right direction, he told Sky News on Sunday. We are clearly making headway.
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