Queensland’s economy teeters on edge of ratings downgrade despite coal royalty windfall

Earnings from mining the fossil fuel set to increase to $6.9bn over financial year, up from $4.8bn, with budget deficit to reach $6.17bn Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Queensland’s treasurer says he’s “not giving up” on halting a ratings downgrade for the state’s finances after handing down a budget full of red ink, amid predictions state borrowing will top $200bn in three years. David Janetzki promised a budget