The Northern Territory Government has tabled its 2018-19 Treasurer’s Annual Financial Report which shows the government delivered massive infrastructure investment but also improved its budget position.
The $1.507 billion infrastructure spend in 2018-19 is $27 million above the recent budget estimate of $1.48 billion. There was also a $388 million improvement in the expected deficit.
More than 622 construction contracts were awarded in 2018-19 with almost 99 per cent of these going to local businesses.
This latest big, job-creating infrastructure investment has come at a time when the Territory needs it most as the US$37 billion Inpex LNG project transitions from construction to export phase, having injected around $5 billion into our economy each year.
NT Treasurer, Nicole Manison, said the government’s number one priority is creating local jobs and that is why it has invested heavily in infrastructure.
“We know that the Territory economy has been challenging – following the wind down of the INPEX construction phase and the massive Federal Government GST cuts – and we are doing everything to support Territorians.
“We have worked hard to deliver for Territorians, to support jobs and local business, and to diversify the economy.”