Territory Stories

Budget Paper No.2 Fiscal and Economic Outlook 2008-2009



Budget Paper No.2 Fiscal and Economic Outlook 2008-2009

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Tabled paper 1293


Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT




Tabled By Delia Lawrie


Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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2008-09 Budget 78 The Territory Economy e: estimate; f: forecast Source: ABS Cat. No. 5206.0; Northern Territory Treasury Gross State Product Following an increase of 5.6 per cent in 2006-07, Territory gross state product (GSP) is estimated to increase by 2.8 per cent in 2007-08 (see Chart 7.2). The more modest growth rate compared to 2006-07 is due to lower net exports and lower investment associated with the completion of mega projects. The negative contribution of net exports to growth in 2007-08 reflects the impact of scheduled maintenance shut-downs at the Wickham Point LNG plant and associated gas fields, as well as the temporary closure of the Corallina oilfield and the permanent closure of the Elang Kakatua oilfield. In addition, total private investment expenditure is estimated to decline by 8.5 per cent in 2007-08, reflecting the completion of major works on the Alcan refinery expansion, and despite increases in machinery and equipment expenditure by many mine operators. e: estimate; f: forecast Source: ABS Cat. No. 5206.0, 5220.0; Northern Territory Treasury Chart 7.1: Private and Public Investment (year on year percentage change) -50 -40 -30 -20 -10 0 10 20 30 40 50 60 70 80 90 100 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Year ended June % Public Private e f Chart 7.2: Territory SFD and GSP (real, year on year change) -5 0 5 10 15 20 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08e 09f Year ended June GSP % SFD

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