This March 2023 Quarterly Financial Results Report provides financial results for the Western Australian public sector for the nine months to 31 March 2023.
The general government sector recorded an operating surplus of $3.6 billion for the nine months to 31 March 2023. General government revenue was $951 million higher than last year, due largely to higher taxation revenue and Commonwealth grants, while recurrent spending was $2.9 billion higher than the same period in 2020-21. Infrastructure spending of $6.1 billion for the nine months to March 2023, up $1.1 billion on the same period last year, reflects the Government’s significant investment in METRONET and other road projects. Total public sector net debt stood at $28.3 billion at 31 March 2023, down from $29.2 billion at 30 June 2022.
Care should be exercised in extrapolating the likely outcome for the 2022-23 year based on the results to date. Seasonal and other timing factors that impact the State’s finances complicate full-year estimation. Final results for 2022-23 will be provided in the 2022-23 Annual Report on State Finances (due to be released by 28 September 2023).