The 2020-21 Budget incorporates the $5.5 billion WA Recovery Plan announced in July, and further initiatives to support the State’s recovery from COVID-19, including additional support for households and a record $27.1 billion investment in infrastructure. It shows that Western Australia’s economy is forecast to continue growing over the next four years, including growth of 1.25% in 2020-21. The Government’s fiscal strategy has been adjusted in this Budget to focus on supporting the economy rather than paying down debt. Significantly reduced operating surpluses (reflecting increased expenditure related to COVID-19 and lower revenue), combined with the Government’s record infrastructure investment, have increased the forecast level of net debt from 11.3% of Gross State Product in 2019-20 to 14.1% by 2023-24.
