Much has been made of Australia’s Commonwealth debt passing $1 trillion this month. When we consider this debt in isolation, we should not be overly concerned.Our concern increases when we add state debt and consider the trajectory. By 2030, gross debt across all levels of government is expected to reach $2 trillion or 58 per cent of gross domestic product.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Cut $60b spending to buffer a debt crisis Down Under
Bond markets are taking note of growing government debt, and Australia is entering this higher-risk environment less resilient than it could be.
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