Estimates Replies

Economic Forecast

In reply to the Hon. S.C. MULLIGHAN (Lee) (18 November 2020). (Estimates Committee B)

The Hon. R.I. LUCAS (Treasurer): I have been advised the following:

The cumulative real Gross State Product (GSP) growth over the period in question (2021-22 to 2023-24) is forecast to be 10.6 per cent.

Since official records of GSP began in 1990-91, South Australia's GSP grew in real terms by:

4.1 per cent in 1995-96, followed by 3.8 per cent in 1996-97, and 5.4 per cent in 1997-98—cumulative growth of 13.9 per cent.

5.0 per cent in 2001-02, followed by 2.5 per cent in 2002-03 and 3.2 per cent in 2003-04—cumulative growth of 11.0 per cent.

4.8 per cent in 2007-08, followed by 2.8 per cent in 2008-09 and 2.0 per cent in 2009-10—cumulative growth of 9.8 per cent.