This March 2022 Quarterly Financial Results Report provides financial results for the Western Australian public sector for the nine months to 31 March 2022.
The general government sector recorded an operating surplus of $5.5 billion for the nine months to 31 March 2022. General government revenue was significantly higher than last year, due largely to higher Commonwealth grants and taxation revenue (underpinned by the State’s strong economy), while recurrent spending was $94 million lower than the same period in 2020-21. Infrastructure spending of $5 billion for the nine months to March, up $1.4 billion on the same period last year, reflects the Government’s significant Asset Investment Program. Total public sector net debt stood at $28.8 billion at 31 March 2022, down from $33.5 billion at 30 June 2021 and $1.1 billion lower than the estimated outturn for 30 June 2022 contained in the recent Budget.
Care should be exercised in extrapolating the likely outcome for the 2021-22 year based on the results to date. Seasonal and other timing factors that impact the State’s finances complicate full-year estimation. Final results for 2021 22 will be provided in the 2021-22 Annual Report on State Finances (due to be released by 28 September 2022).
