Aussie Press: IMF forecasts should guarantee Australia retains its AAA credit rating

The Australian press published a piece overnight on the International Monetary Fund’s (IMF) outlook on the Australian economy.

Key Points:

IMF expects a $27 billion surge in federal and state tax revenue over the next four years

Will bring the combined budget position back to surplus by 2020, two years earlier than it predicted six months ago

If borne out in next month's budget, the IMF forecasts should guarantee Australia retains its AAA credit rating because net public sector debt peaks at a lower level and then starts declining more rapidly

The improved budget outlook is revealed in the IMF's global economic database and reflects the fund's upgrade of its forecasts for Australia's economy in its ­global economic review released last week