The international ratings agency Fitch has just reaffirmed Australia's AAA credit rating.
This is another clear endorsement of Australia's strong economic fundamentals and this Government's responsible economic management.
All three major international credit ratings have now affirmed Australia's AAA credit rating since the Budget, with Moody's and S&P confirming this in the last two months as well.
Fitch praised the Government's efforts to reduce the budget deficit, including putting the NDIS on a more sustainable footing, and noted Australia's growth outlook 'exceeds the growth outlook for 'AAA'‑rated peers'.
Australia remains one of only nine countries with a AAA sovereign credit rating from all three major ratings agencies.
When we came to government, we inherited bigger deficits and rising debt.
Australia's gross debt is lower than every major advanced economy. Gross debt at the end of last financial year was $10.6 billion lower than forecast in the recent Budget and almost $200 billion better than it would have been under the Coalition.
We've made substantial progress when it comes to the budget and we're taking decisive action to address some of the biggest spending pressures, which this report acknowledges.
The report recognises the importance of Australia's world class superannuation system in improving our international investment position.
Labor built the superannuation system and we will always defend it. The Liberals, Nationals and One Nation want to destroy it and they would undermine Australia's economic resilience as well as the secure retirement of Australian workers as a consequence.
Political opportunists and vested interests like to talk down our economy and our budget, but this report reflects the progress Australians have made together and the importance of our plan.
We've improved the budget position and at the same time as we work to make our economy more productive and resilient over time.
We understand Australians are experiencing the impacts of global volatility which is why we're delivering permanent cost of living relief like new tax cuts for Australian workers, cheaper medicines and more bulk billing.
