General Government Expenses Surpass Revenue for March quarter

  • Jun 02, 2020 AEST
  • Team Kalkine

ABS analysis of COVID-19 effects on quarterly government finance statistics (GFS) shows that during March quarter of 2020-

  • Tax revenue fell by 4% to $137,897 million while expenses surpassed revenue resulting in a net operating balance of -$7,296 million
  • GFS net lending/borrowing position was -$14,815 million
  • General government final consumption expenditure in seasonally adjusted (SA) terms increased by 2.0% compared to previous quarter and is expected to contribute 0.3 percentage points to growth in the March quarter 2020 volume measure of GDP
  • While general government gross fixed capital formation decreased by $657 million or -3.3%, public corporations gross fixed capital formation increased by $449 million or 7.9% compared to previous quarter in SA terms.


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