2022-23 State Budget

News story
Western Australia State Budget
Graphic of the 2022-23 State Budget

The 2022-23 Budget shows that Western Australia’s economy and finances are performing strongly.  Strong economic growth, coupled with elevated commodity prices, has boosted the general government operating surplus for 2021-22, which is now estimated at $5.7 billion.  Operating surpluses are also forecast in 2022-23 ($1.6 billion) and across the entire forward estimates period.  

Key Government initiatives in the Budget include: a $400 Household Electricity Credit to ease cost of living pressures; a record investment totalling $2.5 billion in the State’s health and mental health systems; an additional $1.6 billion in COVID-19 response measures; further climate action initiatives, including a $500 million boost to the Climate Action Fund; and a record $33.9 billion Asset Investment Program over the next four years.  Despite these investments, net debt is expected to fall for a third consecutive year to $29.9 billion at 30 June 2022, the first time since 2015 that net debt has been below $30 billion.

The Budget Papers are available on the Our State Budget website.

Page reviewed 12 May 2022