Dominic Perrottet, Chris Minns facing tougher economic times regardless of outcomeLoading 3rd party ad contentLoading 3rd party ad contentLoading 3rd party ad contentLoading 3rd party ad content
Deteriorating economic conditions have cast a shadow over the March 25 state election – and whoever wins will confront a raft of financial challenges.
The upheavals of COVID-19 forced a dramatic reassessment of economic policy as the NSW government scrambled to respond to the health and economic challenges of the crisis.Budget blues The pandemic left the NSW government’s finances greatly weakened.That will be the NSW government’s fifth consecutive deficit.Budget papers show interest on borrowings paid annually by the NSW government will almost double during the next four years from $3.
Loading The NSW government is still very well-equipped to service its debts – the state has the highest possible triple A credit rating from two major international ratings agencies.Even so, the incoming NSW government will confront a slowing economy and a state budget under growing pressure.
Read full story at brisbanetimes.com.au