The 2022-2023 Queensland Budget Update has shown that Queensland”s economy remains strong despite global macrconomic challenges.
The announcement forecasted a $5.2 billion budget surplus for 2022-23, largely driven by resources royalties on the back of a temporary surge in global coal and oil prices.
Some of the other key highlights included:
- Queensland is forecast to record further economic growth of 2.5 per cent in 2022-23 and 2023-24, and
- Year-average employment growth is expected to remain at 2.75 per cent in 2022-23 before easing to 1.5 per cent in 2023-24.
The announcement cautioned the path ahead flagging international volatility as a threat to Queensland”s continued economic growth.
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