Government of Western Australia Official Site


Growing population underpins strong growth in WA

Troy Buswell; Tresurer

Troy Buswell
Treasurer; Minister for Transport; Emergency Services

The 2012-13 mid-year review released by Treasurer Troy Buswell in late December shows WA’s economy is expected to remain the best performing in the nation this year, underpinned by its growing population. is expected to record a $140million operating surplus in 2012-13.

“Despite ongoing uncertainty around the world, the WA economy grew by a record 6.7 per cent in 2011-12 and is now expected to grow by 6 per cent in 2012-13, up from 4.75 per cent at budget-time” Mr Buswell said. “The WA economy continues to outperform other states and drive the national economy, underpinned by strong growth in business investment.“ This strength was reinforced by a Commsec ‘State of the States’ Report that showed the state had the strongest retail trade, equipment investment, completed construction work and population growth among Australian states.

WA’s strong economy continues to draw people to the State, with the population growing by 1,500 people each week over the past year. While strong economic and population growth delivers great benefits, it also drives significant demand for government services and infrastructure.

The State’s mid-year review contains new spending to address these demand pressures, and provide essential services for the Western Australian community, with increased funding for hospital services, education and transport infrastructure. In response to the weaker revenue outlook and increased demand for services, the State government has implemented a range of savings measures since the 2012-13 State Budget, which are estimated to save around $527million in 2012-13.

The Government’s Asset Investment Program is expected to total $27.4 billion over the four years to 2015-16, up $1 billion since the Budget, including expenditure of $7.3 billion in 2012-13 on health, electricity, transport and other critical infrastructure. At the same time, the latest estimate for net debt this year is $18.2 billion, down from $18.6 billion at budget time.

For more information on the mid-year review, click here.
For more information on the Commsec State of the States Report, click here.