The NSW Government continues to secure the state’s economic future with Treasurer Dominic Perrottet’s release of the Total State Sector Accounts (TSSA) detailing the 2016-17 budget result.
The TSSA showed a $5.7 billion surplus in 2016-17, an improvement of $1.2 billion from the forecast position in the 2017-18 Budget.
The increase will continue to be directed to infrastructure delivery and frontline services as the stronger budget position allows the State Government to continue to invest in public transport, vital roads, schools and hospitals at levels NSW has never seen before.
State sector net worth – the value of the state’s total assets minus its total liabilities – rose to $226.5 billion at 30 June 2017 from $181.8 billion a year earlier. With the latest result, NSW has further improved its net debt position with the General Government sector having a net debt of negative $9.3 billion at 30 June 2017. This is an improvement of $1.5 billion from the forecast position in the 2017-18 Budget.
The TSSA result follows the reaffirmation of NSW’s triple-A credit rating by both Moody’s and Standard and Poor’s.
The NSW Half Yearly Review will be released in December.