Handing down a projected deficit of 78 billion in 2023-24 and then improved surpluses every year after starting from 844 million in 2024-25 there have been plenty of projects. 14bn dollars in spending has been slashed from the NSW budget as the state posted its fifth consecutive deficit with pay frozen for politicians and top bureaucrats. The government argues that it no longer makes sense to contribute to a fund during a period of deficits when returns generated are less than debt repayments. This years projected deficit of 78 billion is nearly three times bigger than forecast in the last budget in June 2022 However there will be a small surplus of 844 million next financial. Dan Himbrechts A modest return to budget surplus of 601 million in the 2024-25 financial year is forecast driven by large increases in revenue from GST mineral royalties..
Nsw Budget Deficit Likely To Be Around 19bn In Fy22 7 5 10bn Better Than December S 30bn Forecast Kieran Davies Livewire
Nsw Election 2023 State S Deficit Grows By 670 Million In A Month Economists Warn Next Government Will Be Forced To Shelve Commitments