Australia Owes The Rest Of The World $1 Trillion

The ABS this morning released a report on the state of Australia’s financial position at the end of the March quarter.

As part of a very detailed report the sectoral analysis showed that the combination of the Australian government, Financial corporations and Non-financial corporations owed the rest of the world $999.8 million as at the end of March 2014.

When you add back household claims on the rest of the world worth $62.4 billion this falls to a still not inconsequential $935.6 billion Australia owes the rest of the world.

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