PHOTO: The NSW Government has benefitted from the recovering property market. AAP: Danny Casey
Sydney’s slowly recovering property market has helped ensure that the Berejiklian Government ends this year with a forecast surplus of $700 million, despite the mounting cost of the drought.
The mid-year review revealed the state’s budget was still in the black but the forecast surplus of $1.016 billion shrunk to just $702 million.
But Treasurer Dominic Perrottet said he was willing to take the state into debt in order to meet his Government’s ambitious infrastructure agenda.
He said NSW had half the debt of the other states but was building twice the amount of infrastructure.
“That puts us in a very good position to capitalise on the low interest rates that we’re seeing today,” the Treasurer said.
“Our population is due to continue growing and we need to have the infrastructure investment off the back of that, that means the debt position will also grow.
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