The 2022-23 State Budget was tabled in Parliament in June 2022. This Report provides our observations on the State’s public finances based on our review of the Budget.
Our analysis is based on data provided in the 2022-23 Budget Papers, supplemented by representations and information provided by the Department of Treasury and Finance. The 2021-22 estimated result in the 2022-23 Budget reflects the activities of the previous SA Government from July 2021 to March 2022, and the current SA Government from March 2022 onwards.
In the few months since the 2022-23 Budget was released there have been significant emerging and evolving events, which may impact budget forecasts. This includes large waves of COVID-19 infections in South Australia during the winter period and high inflation leading the Reserve Bank of Australia to raise its cash rate target by 2.25%.