Quarterly Financial Results Report – December 2020

News story
The general government sector recorded an operating surplus of $2,945 million for the first six months of 2020-21, a $634 million increase on the $2,310 million surplus reported for the same period in 2019-20.
Graphic of cover of December Quarterly Report

General government revenue for the first six months of 2020-21 was $2,247 million higher than the same period last year. This largely reflects higher royalty income, dividends from public corporations deferred from 2019-20, and the timing of Western Australia’s GST top-up payments. General government expenses for the same period were $1,612 million higher than for the six months to 31 December 2019, mainly due to the impact of spending associated with the COVID-19 pandemic.

Total public sector net debt stood at $34.6 billion at 31 December 2020, $869 million lower than the $35.4 billion outcome recorded at 30 June 2020.

Care should be exercised in extrapolating the likely outcome for the 2020-21 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 26 February 2021