The ACT economy has rebounded strongly following on from COVID-19 lockdowns and restrictions, with a better-than expected budget bottom line driven by increased household spending.
But as ACT Chief Minister and Treasurer Andrew Barr handed down his 11th territory budget on Tuesday, he signalled national factors such as rising inflation and interest rates are expected to bring future challenges.
The budget deficit for 2021/22 was $580.4 million, $371.1 million lower than what was forecast in last year's budget, and was also $189.8 million lower than the budget review handed down in March.
