Bloomberg News

New South Wales State Forecasts A$824 Million Deficit in 2012/13

June 11, 2012

New South Wales, home to about a third of Australia’s nearly 23 million people, forecast a wider budget deficit in the fiscal year beginning July 1.

The deficit will increase to A$824 million next fiscal year from a projected shortfall of A$337 million in the 12 months to June 30, Treasurer Mike Baird told the state parliament today, citing falling revenue from the Goods and Services Tax.

To contact the reporter on this story: Michael Heath at mheath1@bloomberg.net

To contact the editor responsible for this story: Paul Tighe at ptighe@bloomberg.net


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