2011-12 Government Mid-year Financial Projections Statement (or mid-year review)
The Government Mid-year Financial Projections Statement (or mid-year review) updates the May 2011 Budget financial projections for the Western Australian public sector for the period 2011-12 to 2014-15. The report includes a summary of revised economic conditions and assumptions underlying the updated financial outlook, and summarises expected performance against the Government's whole-of-government financial targets.
The mid-year review shows that while there is considerable volatility and uncertainty in global economic conditions, Western Australia's domestic outlook is strong reflecting a substantial business investment pipeline. The general government sector is expected to record an operating surplus in 2011-12 and in each of the outyears, but lower than was forecast at the time of the the May Budget. Together with the inclusion of some new infrastructure projects, including a provision for construction of the New Perth Stadium, net debt is forecast to increase to around $23.9 billion by 30 June 2015.