Moody's: Western Australia's worsening budget forecasts are credit negative

The US ratings agency, Moody’s investor services published their latest assessment on the Western Australia budget forecasts this Thursday.

Key findings from the report:

Widening WA budget deficits projected for FY 2016/17 and over the medium term are credit negative

Fiscal deterioration reflects significant slowing in economic growth, having more drag on tax revenues than expected

Efforts not sufficient to stem budgetary gaps which ultimately will lead to further increases in its debt burden