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NSW:'Basics' budget the start of Labor state election pitch

Despite the World Cup match playing in his office, Daniel Mookhey is more comfortable trying to balance his state's budget than a soccer ball.

The NSW treasurer will be delivering his fourth budget for the nation's largest state economy on Tuesday - and potentially his last, pending the outcome of the election scheduled for March.

It comes at a time of multiple economic headwinds, including rising interest rates and a stalled property market, and the fallout from the war in the Middle East putting a further brake on the already sluggish Australian economy.

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