Federal Treasurer Wayne Swan said on Friday that the Australian economy is robust and growing as reflected by the latest Moody's assessment that maintains the country's AAA credit rating.

Swan hailed Moody's affirmation as a clear testament to the economic strength of Australia, which he stressed "stands tall in the world with its gold-plated AAA status safe and secure," as reported by The Herald Sun.

The international ratings agency lauded the government for its policies that boosted the country's "high economic resiliency and financial strength."

Echoing the same evaluation results earlier released by Standard & Poor's and Fitch, Moody's praised the federal government for putting in place economic measures that kept the country's debt standing at manageable level while at the same time maintaining policies that benefit Australians.

In particular, Moody's highlighted the Australian government's ability to integrate the sound management of its finances with spirited measures of ensuring the welfare of its ageing population.

According to the Australian Associated Press (AAP), Moody's noted that Australia's very high per capita income, large size and economic diversity "was supported by the very low level of public debt and the country's strong financial system."

The credit boost came as the situation in Europe appears to deteriorate, with many countries in the region placed by key rating agencies under close monitoring, including Britain, France and Spain.

Further slides on these economies, Moody's said, would eventually lead to credit downgrades much in the same way when the United States lost its AAA credit rating earlier this year as per the assessment issued by S&P's.

But Swan believes that while the development around the world could in many ways affect the domestic economy "we have strong fundamentals, we have low unemployment, we have strong public finances, we have trend economic growth and we have a huge investment pipeline," to serve as buffers in the event of a crippling crunch in the months ahead.

"Australia ends the year rated AAA by all three global ratings agencies, something that was never achieved under the previous government," Swan was reported by AAP as saying in asserting that at the moment, the country's economy is a cut above the rest.