The government’s ability to support the economy to recover and grow, and to improve the wellbeing of Queenslanders is supported by a prudent fiscal strategy.
The State’s finances are managed in line with the government’s fiscal principles set out in the Charter of Fiscal Responsibility. A number of these measures are based on the fiscal principles that in turn rely on measurement against key fiscal aggregates. The unprecedented domestic and global economic downturn and the emergency response required to mitigate COVID-19’s impacts are significantly affecting the State’s key aggregates.
In 2020, owing to the extraordinary economic conditions caused by COVID-19, the 2020‒21 Budget was deferred. This approach is consistent with that adopted by the Australian Government and other state and territory governments. A COVID-19 Fiscal and Economic Review (C19-FER), will be published in September 2020.