The 2017-18 Half-Yearly Review builds on the State’s strong track record of responsible financial management, successful asset recycling and commitment to vital infrastructure and frontline services for the people of NSW.
A surplus of $3.3 billion and average surpluses of $2.1 billion are forecast over the budget year and the forward estimates. At June 2017, General Government sector net debt was a record low of negative $9.3 billion.
These strong results demonstrate the NSW Government’s sound financial management and enable it to invest a record $80.1 billion over four years in the schools, hospitals, roads, rail and cultural infrastructure connecting our communities across the State.
This unprecedented infrastructure pipeline is a key factor in the success of NSW, bolstering construction activity, driving jobs growth and adding a forecast ½ percentage point a year to economic growth over the next two years.
NSW is on track to be the first Australian state with net worth exceeding a quarter of a trillion dollars by June 2019, driven in part by the Government’s successful asset recycling program.
In the meantime, NSW remains Australia’s economic engine room. The NSW economy grew 2.9 per cent in 2016-17, well above the long-run average and contributing nearly half of Australia’s overall economic growth.
For more information take a look at the NSW Budget website.