Moodys celebrates Victorian ponzi-economy

Tuesday 23 February 2016

Moodys has released its Annual Report on Victoria, which provides a Panglossian assessment of the state’s economy and Budget. Below is the full media release (my emphasis):

Sydney, February 23, 2016 — Moody’s Investors Service says that the credit quality of Victoria reflects the Australian state’s ample financial flexibility and diverse economic base, but its plan to remain in surplus for most years over the medium term will be challenged by the need to continue achieving low rates of spending growth.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.