Arabic version: ديون أستراليا تبلغ تريليون دولار مع ارتفاع الأسواق

According to ABC News, Australia’s debt has reached $1 trillion as United States debt passed the $US40 trillion threshold. The US is on track to borrow $US2 trillion during 2026, with the funds to be spent on the war in the Middle East and sweeping tax cuts.

In Parliament, Shadow Treasurer Tim Wilson tried to suspend standing orders in the lower house to move a motion noting Commonwealth debt had reached $1 trillion for the first time. He described the milestone as one of the “saddest days in our nation’s history” and said the motion failed 41-85.

Treasurer Jim Chalmers responded that gross debt would have crossed the trillion-dollar mark three years earlier under the Liberals and Nationals. He said gross debt would already be approaching $1.2 trillion this year if the Coalition had remained in power, and said the government’s management had reduced debt from the level it inherited. Chalmers also said Australia was avoiding more than $70 billion in interest and that Moody’s and S&P Global had reaffirmed the country’s AAA credit rating this month.

The ASX 200 was up 0.1% at 9,066 points at about 12:08pm AEST. Materials was the best-performing sector, up 3.2%, while financials fell 1.8%. Spot gold was down 0.5% at $US4,496 an ounce, Brent crude was up 3.1% at $US98.90 a barrel, and the Australian dollar was down 0.1 at 71.15 US cents. Separately, the seasonally adjusted unemployment rate rose to 4.5% in July from 4.4% in June, while employment fell by 16,000 people.