• 2018-19 Annual Report on State Finances

    The 2018‑19 Annual Report on State Finances (ARSF) was released by the Treasurer today and details the major variations between the forecasts contained in the original 2018‑19 State Budget (released 10 May 2018), the estimated outturn detailed in the recent 2019‑20 Budget (handed down on 9 May 2019), and the final outcomes recorded for the year ending 30 June 2019.

    A general government sector operating surplus of $1.3 billion was recorded for 2018‑19, $851 million higher than the estimated surplus contained in the recent Budget1.

    This stronger surplus reflects lower recurrent expenditure ($316 million lower than the estimate in the 2019‑20 Budget), higher than expected iron ore prices in the June 2019 quarter and a one-off $250 million royalty backpayment from BHP.

    Total public sector net debt at 30 June 2019 was $35.5 billion, $819 million lower than estimated in the 2019‑20 Budget. 

    1.  Based on accounting standards that continue to apply for the year ending 30 June 2019.

    Published date: 27 September 2019

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Annual Report

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