The State’s economy is continuing to grow strongly, with growth in Gross State Product (GSP) forecast to accelerate to 3.5% and an additional 51,500 jobs expected to be created in 2021-22.
The Mid-year Review includes an additional $1.28 billion investment in the State’s health and mental health system since the 2021-22 Budget, implementation of a new public sector wages policy to better reflect current economic conditions, additional investment in priority transport projects, and new investment to further diversify the State’s economy and reconnect Western Australia to the world.
The general government operating surplus for 2021-22 has been revised down from $2.8 billion at Budget to $2.4 billion, with operating surpluses also forecast across the entire forward estimates period. The Government’s Asset Investment Program totals a record $32.7 billion over 2021-22 to 2024-25.
Net debt by the end of the forward estimates period is forecast to be 11.2% of GSP, down slightly from the 11.4% share projected at Budget.