Australia's Debt Hits $1 Trillion Mark for the First Time
The national debt briefly crossed this major milestone after the sale of bonds during the week.
TL;DR
- Australia's national debt surpassed $1 trillion for the first time on August 20.
- This milestone was reached after the Australian Office of Financial Management issued new bonds.
- Gross debt was $983.7 billion on August 14.
- A $4.1 billion bond auction and a $13 billion treasury bond syndication contributed to the increase.
- The total debt reached approximately $1.008 trillion.
- The debt is projected to fall below $1 trillion on August 21 due to $6 billion in maturing notes.