AUSTRALIA’S AAA CREDIT RATING AFFIRMED

- Almost 32 million doses have been administered
- Australia has been vaccinating at a faster rate than the UK, US, Germany, Italy, and France
- More than 84 per cent of all Australians aged over 16 are protected with a first dose

AUSTRALIA’S AAA CREDIT RATING AFFIRMED
In a clear expression of confidence in the Morrison Government’s economic management, Fitch Ratings have affirmed Australia’s AAA credit rating and upgraded its outlook.

Despite the economic recovery being temporarily disrupted by recent lockdowns, Fitch Ratings “expect Australia’s economic recovery to continue” with the economy forecast to grow by 4.5 per cent in 2022.

This strong economic outlook is expected to see the jobs market “snap back rapidly with the unemployment rate forecast to average 4.7 per cent in 2022” which would be the lowest annual rate since 2008. The Government’s economic recovery plan is working, but the job is not done yet.

THE UNEMPLOYMENT RATE REMAINS LOW
Labour force figures released this week by the ABS show Australia’s unemployment rate remains lower than the start of the pandemic and lower than when Labor left office. Since May last year, over 744,000 jobs have been created or restored and there are more people in full-time work now than before COVID-19. The latest job figures reinforce the importance of sticking with the national plan for reopening.

MORE TO RECEIVE A FREE SHINGLES VACCINE
Australians aged between 71 and 79 will continue to be able to receive a free Zostavax® shingles vaccine, with the Government extending the program for another two years to 31 October 2023. Shingles is a serious infection that can be debilitating for older people.

One in three adults are at risk of developing the virus in their lifetime. To date, more than 1.2 million Australians aged 70 to 79 have received a free shingles vaccine as part of this program and we want to provide assurance that the vaccine will continue to be free for another two years.

PROTECTION AGAINST CYBER THREATS
The Morrison Government is taking action to protect the community and economy from ransomware attacks, announcing new criminal offences, tougher penalties, and a mandatory reporting regime as part of a new and comprehensive Ransomware Action Plan.

These criminal groups have attacked businesses, individuals, and critical infrastructure right across the country. Stealing and holding private and personal information for ransom costs victims time and money, interrupting lives and the operations of small businesses. That’s why the Government is taking action to disrupt, pursue and prosecute cybercriminals. Our tough new laws will target this online criminality and hit cybercrooks where it hurts most – their bank balances.