The 2025-26 Annual Report on State Finances (ARSF) was released by the Treasurer today. It outlines the final, audited whole-of-government financial outcomes for 2025-26 and details material changes from the estimated outturn contained in the 2026‑27 Budget, and to the projections in the original 2025-26 Budget.
The ARSF shows that Western Australia recorded its eight consecutive general government sector operating surplus of $4.2 billion in 2025‑26, up $684 million on the estimated outturn in the 2026-27 Budget. This outcome reflects a modest lift in revenue and lower than expected expenses.
Spending on the State Government’s infrastructure program totalled $12.3 billion in 2025‑26. This high level of investment reflects the ongoing delivery of significant economic and social infrastructure projects.
Total public sector net debt at 30 June 2026 was $33.4 billion, down $5.6 billion on the projected net debt level at the time of the original 2025‑26 Budget, and represents 6.9% of Gross State Product in 2025‑26, well below levels in other jurisdictions.
The outlook for Western Australia’s finances will be updated in the 2026-27 Government Mid-year Financial Projection Statement, which is due for release in December 2026.
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