Source: Treasurer and Minister for State Development and Trade,
The Honourable Andrew Fraser, 01/04/2011
Credit ratings agency Standard and Poor's has singled out Queensland's 'excellent financial management' and 'very strong and diversified economy' in its latest assessment of the state's finances.
In its first official analysis following the devastating floods and cyclones that smashed Queensland earlier this year, Treasurer Andrew Fraser said Standard and Poor's had reaffirmed Queensland's AA+ credit rating.
Generating phenomenal energy, the economic and population growth outstrips all other Australian capital cities. This is fuelled by high levels of business investment and the largest public infrastructure spending program in Australia's history.
Our recent South East Queensland visit showed little if any signs of the flood remaining. It was simply "business as usual".
South East Queensland is one of the fastest growing regions in the country and Brisbane's diverse economy is well positioned to manage the short-term and long-term impact of the recent flood and to continue to prosper and enjoy sustained growth.
Brisbane Marketing figures reveal that of the $1.361 billion (AUD) of investment that the organization attracted from 1 July 2007 to now, 91 per cent of these companies were not inundated or directly affected by the flood.
Early indications from this assessment are that the most significant impact to business during the flood was loss of productivity as a result of disruptions to Brisbane's central business district, trading precincts and commercial properties.
Industry forecasters, IBIS World forecast that while the floods are expected to have a negative short-term effect on economic growth as a result of temporary suspension and interruption to business, from April 2011 the floods will provide a boost to economic growth through rebuilding and is expected to last until 2012-13 and total $11.75 billion (AUD).
The Honourable Andrew Fraser, 01/04/2011
Credit ratings agency Standard and Poor's has singled out Queensland's 'excellent financial management' and 'very strong and diversified economy' in its latest assessment of the state's finances.
In its first official analysis following the devastating floods and cyclones that smashed Queensland earlier this year, Treasurer Andrew Fraser said Standard and Poor's had reaffirmed Queensland's AA+ credit rating.
Generating phenomenal energy, the economic and population growth outstrips all other Australian capital cities. This is fuelled by high levels of business investment and the largest public infrastructure spending program in Australia's history.
Our recent South East Queensland visit showed little if any signs of the flood remaining. It was simply "business as usual".
South East Queensland is one of the fastest growing regions in the country and Brisbane's diverse economy is well positioned to manage the short-term and long-term impact of the recent flood and to continue to prosper and enjoy sustained growth.
Brisbane Marketing figures reveal that of the $1.361 billion (AUD) of investment that the organization attracted from 1 July 2007 to now, 91 per cent of these companies were not inundated or directly affected by the flood.
Early indications from this assessment are that the most significant impact to business during the flood was loss of productivity as a result of disruptions to Brisbane's central business district, trading precincts and commercial properties.
Industry forecasters, IBIS World forecast that while the floods are expected to have a negative short-term effect on economic growth as a result of temporary suspension and interruption to business, from April 2011 the floods will provide a boost to economic growth through rebuilding and is expected to last until 2012-13 and total $11.75 billion (AUD).
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