NSW has been rated Australia’s fastest growing economy, with record investment in health, education and infrastructure helping to accelerate the State past all other states and territories.
The latest Deloitte Access Economics (DAE) Investment Monitor and Business Outlook reports credited the NSW Government’s spending on infrastructure as a key driver of economic growth.
NSW Treasurer Dominic Perrottet welcomed the latest reports.
“These reports show we are reaping the rewards of our strong fiscal and economic management and reinvesting funds into much needed infrastructure and frontline services to make NSW a great place to live, work and raise a family,” he said.
“Over the next four years the Berejiklian-Barilaro Government is investing a record $73.2 billion into new hospitals, schools, roads, public transport and other vital infrastructure across the State.”
DAE pointed to major projects like Badgery’s Creek Airport and Barangaroo, in Sydney’s CBD, as key commercial projects aiding NSW’s economic performance.
“Our infrastructure boom is being driven by our successful asset recycling strategy and the proceeds of the Endeavour Energy and LPI transactions will deliver even more benefits for the people of NSW,” said Mr Perrottet.
“The NSW Government is committed to asset recycling to deliver funds to support the development of much needed infrastructure across the state,” he said.
The DAE report also cited NSW as outperforming the rest of the country in terms of commercial construction.
“NSW once again has its mojo back and more people are now calling our great State home; increasing overall supply will help to improve housing affordability,” Mr Perrottet added.