Australia government dismisses concerns over AAA rating amid election spending pledges

FILE PHOTO: Australian Treasurer Jim Chalmers arrives to attend a G20 finance ministers' and Central Bank governors' meeting at Gandhinagar, India, July 18, 2023. REUTERS/Amit Dave/File Photo

SYDNEY (Reuters) -Australian Treasurer Jim Chalmers on Monday downplayed warnings that the country's top-level AAA rating was under threat due to billions of dollars in election spending promises.

Earlier in the day, analysts at S&P Global Ratings warned in a report that the AAA rating could be at risk if campaign pledges ahead of a general election on May 3 led to larger, structural deficits.