NSW budget deficit blows out by $1.3b over two years

The NSW budget has plunged $1.3 billion further into deficit out to the 2023/24 financial year. Photo: AAP

The NSW deficit is expected to worsen by $1.3 billion over this financial year and the next, after Treasury downgraded its projections for the budget in a pre-election update.

The update, coming ahead of the March 25 poll, shows the estimated deficit for 2022/23 has grown by $668 million to $12.03 billion since the last update in February.