The government's performance on both measures will be highlighted on Wednesday when Premier Lara Giddings unveils the government's half-yearly budget progress report.

Moody's Australian vice-president Debra Roane said the state's superannuation unfunded liability was on the ``high side'' at 23 per cent of gross state product.

``You would have to say it is so high, and relatively high to other states, to be a negative credit issue,'' Ms Roane said.

``If the state is not successful in significantly reducing expenditures, we anticipate that the deficit would widen significantly beyond the current forecast, which would be a credit negative.''

Moody's will release its latest assessment of Tasmania's financial position in a few weeks.

The other major ratings agency, Standard & Poor's, last year said a credit downgrading could take place if the government failed to achieve its savings targets, or its net financial liabilities like the superannuation liability exceeded 120 per cent of revenue.

The liability is currently 112 per cent or budget revenue.

``A downgrade would likely require a sustained period of a weakened budgetary position, combined with government inaction and a significant increase in gross debt and net financial liabilities (superannuation),'' according to Standard & Poor's report on the state.

The agency has rated the superannuation liability as more than 50 per cent of budget revenue, increasing to 75 per cent this year.

It is equivalent to more than $10,000 for every Tasmanian, and grew by $820 million last year.

The super bill is due to hit $5.6 billion by 2015, while the target date to wipe it out has been pushed back to the year 2035.

The government's provision to off-set the liability has grown marginally over the past decade to $1.45 billion.