ANALYSIS: Back in the black — WA Government finances bounce back, just in time for the election
With every dollar increase in the iron ore price worth $81 million to the state budget, that is great news for the Government.
Were that to continue for the rest of the year — something the Treasurer stresses is far from guaranteed — it would mean a $1 billion budget boost. The return to surplus is yet to make any real dent in debt levels either, with WA still around $40 billion in the red — and predicted to make only modest progress bringing that down over the coming years.And the real consequences of that will likely become more obvious over the coming months.
"It is about boosting the economy, creating jobs, using our good financial management to the benefit of West Australians," Mr McGowan said recently of his Government's spending plans.
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