NSW budget: treasurer sets scene for restraint as state faces $10bn deficit over four years

NSW treasurer Daniel Mookhey and premier Chris Minns prepare to hand down the 2024-25 NSW state budget. Photograph: Bianca de Marchi/AAP

The New South Wales government has revealed that the state will be $14bn worse off over the next four years than it had previously forecast as it is now expecting the budget to be in deficit until at least 2027.

With hopes of a return to surplus dashed, the government is now expecting a $3.6bn deficit in the coming 2024-25 financial year, according to a budget excerpt circulated by state Treasury on Monday.