The States fiscal position had weakened in recent years but the Governments Comprehensive Expenditure Review identified $13 billion in budget improvements, revenue and reprioritisation measures to help stabilise the fiscal position.
These funds will be reinvested into essential services to help keep the States overall expenses at a manageable level. As a result, the 2023-24 NSW Budget projects an improved surplus of $844 million in 2024-25.
The Government has also taken steps to reduce the impact of the NSW Generations Fund and Transport Asset Holding Entity on the States balance sheet, with gross debt projected to be $173.4 billion by June 2026, which is $14.8 billion below the 2023 Pre-election Budget Update.
Net debt is now projected …
Read the full article at: https://www.nsw.gov.au/media-releases/triple-a-credit-rating-reaffirmed-by-moodys