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Treasury highlights

Report on State Finances 2008-09

The Report on State Finances 2008-09 was tabled in Parliament by Treasurer Andrew Fraser on 29 October 2009.

The report, which incorporates the Outcomes Report, General Government financial statements and Whole of Government financial statements, provides a comprehensive view of the Government’s financial operations over 2008-09.

The Outcomes Report shows:

• a net operating balance for the General Government sector of $35 million. This improvement of $609 million on forecasts is largely due to additional developer contributions which include the first time valuation of land under roads, higher dividends from QR and electricity authorities, increased transfer duty and lower operating expenses in other areas
• an increase in the State’s net worth to $184.619 billion, up $34.819 billion on forecasts, principally due to the first time valuation of land under roads. Revaluations of non-financial assets partially offset by lower long term investments held by the public non-financial corporations sector were also a factor.

For more information, read the Report on State Finances.

2008-09 Annual Economic Report

Amidst the most severe global financial and economic crisis since the 1930s, the 2008-09 Annual Economic Report documents the resilience of the Queensland economy, which expanded by 0.8% in the financial year.

An additional 48,000 Queenslanders found employment in 2008-09, the largest increase of any state during the financial year.

For more information, read the 2008-09 Annual Economic Report.

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