This Quarterly Financial Results Report provides financial results for the Western Australian public sector for the nine months to 31 March 2019.
The general government sector recorded an operating surplus of $62 million for the nine months to 31 March 2019, a significantly stronger outcome compared with the $1,285 million operating deficit reported for the same period last year. The State’s Asset Investment Program totalled $3.3 billion for the first nine months of 2018-19, while total public sector net debt stood at $34.9 billion at 31 March 2019, up $310 million on the level recorded at 30 June 2018, with evidence that the recent growth in net debt is coming to its expected peak.
Care should be exercised in extrapolating the likely outcome for the 2018-19 year based on the results to date, particularly in light of the seasonal and other timing factors that impact the State’s finances. Final results for 2018‑19 will be provided in the 2018-19 Annual Report on State Finances (due for release in late September 2019). Users should note that the March results are consistent with current accounting standards while for comparability purposes, the recent 2019-20 Budget included the estimated impact of accounting standards that take effect from 2019‑20.