RBA governor Glenn Stevens has warned Australia faces fiscal problems in the medium term because social programs have not been fully funded.
Mr Stevens on Friday told federal politicians of the House Economics Committee that he does not believe the nation has an imminent budget problem. “Our fiscal issue is medium term,” he told the committee in the first of his twice-yearly hearings in Sydney.
“There are some social programs that we all think are very good, that we are committed to do, and they are not fully funded.” However, he said in comparison with most advanced countries, Australia has at this point comparatively low government debt.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.