House of Assembly Fifty-Fourth Parliament, Second Session (54-2) 54 2 Parliament of South Australia House of Assembly published Estimates Replies Estimates Replies Economic Forecast Economic Forecast The Hon. S.C. MULLIGHAN House of Assembly Lee Economic Forecast In reply to the Hon. S.C. MULLIGHAN (Lee) (18 November 2020). (Estimates Committee B) The Hon. R.I. LUCAS House of Assembly Treasurer 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.