The 2020-21 Annual Report on State Finances (ARSF) was released by the Treasurer today. It outlines the final, audited whole-of-government financial outcomes for the year ended 30 June 2021, and how these compare to the estimated outturn contained in the recent 2021-22 Budget.
The ARSF shows that the general government sector recorded an operating surplus of $5.8 billion for 2020-21. This is $213 million higher than the $5.6 billion operating surplus estimated in the recent 2021-22 Budget, which mainly reflects revised accounting treatment of Native Title obligations recognised in 2020-21.
The State’s Asset Investment Program totalled $5.8 billion in 2020-21, the largest investment in infrastructure since 2013-14. This included significant investment in transport infrastructure, electricity and water assets, and health and education projects.
Total public sector net debt at 30 June 2021 was $33.5 billion, in line with the estimated outturn in the 2021-22 Budget and the second consecutive annual reduction in net debt.