The 2020-21 State Budget was tabled in Parliament in November 2020. This Report provides our observations on the State’s public finances based on our review of the Budget. This involved:
- reviewing the Budget against the SA Government’s stated fiscal strategy
- analysing new budget measures and initiatives
- examining the actual results for the past year, Budget estimates and forecasts
- analysing major assets and liabilities
- analysing South Australia’s key fiscal measures compared to other Australian states
- reviewing credit rating agency reports on South Australia.
Our analysis is based on data provided in the 2020-21 Budget Papers supplemented with representations and information provided by Department of Treasury and Finance. The 2020 21 Budget notes that the COVID-19 pandemic could substantially impact budget revenues and expenses and that forecasting financial outcomes in the present economic environment is particularly difficult.