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‘Our debt position is manageable’: NSW Treasurer dismisses budget concerns

Article image for ‘Our debt position is manageable’: NSW Treasurer dismisses budget concerns

The NSW Treasurer is confident in the state budget, dismissing concerns over the accumulation of debt.

The $802 million surplus is lower than expected, with net debt of about $8.8 billion but debt levels are forecast to rise to more than $12.3 billion over the next year.

The budget includes a record $93 billion spent on infrastructure over the next four years.

Moody’s warns “if the growth rate in the state’s debt burden is unaddressed beyond the four-year period to 2023, it could pressure the state’s stand-alone creditworthiness”.

Treasurer Dominic Perrottet tells Ross Greenwood the added infrastructure will help drive economic growth.

“The jobs growth off the back of our infrastructure investment is really driving our economy forward.

“We believe that our debt position is manageable, affordable and sustainable.”

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Brooke Corte
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