Quarterly Financial Results Report - December 2019

News story
The general government sector recorded an operating surplus of $2,310 million for the first six months of 2019-20, a substantial increase on the $83 million surplus reported for the same period in 2018-19.
2019-20 Quarterly Financial Results Report December 2019

This is largely the result of higher royalty income and the timing of GST top-up payments, and continuing low expense growth (1.9%).

The State’s Asset Investment Program totalled $2.4 billion for the six months to 31 December 2019, broadly in line with spending recorded for the same period in 2018-19.

Total public sector net debt stood at $35.1 billion at 31 December 2019.  Adjusting for accounting standard changes, this represents a reduction in net debt of $2.4 billion relative to 31 December 2018.

Care should be exercised in extrapolating the likely outcome for the 2019-20 year based on the quarterly results to date, particularly in light of the seasonal and other timing factors that impact the State’s finances.

Page reviewed 28 February 2020
Was this information helpful?