WA economic update paints a grim picture
Treasurer Ben Wyatt is warning the impact on WA’s finances, from the coronavirus downturn, will be significant.
Economic growth for this financial year will be much smaller than previously forecast with a contraction for the 2020/21 financial year.
Mr Wyatt says while mining royalties are holding up well the budget will be hit hard by a decline in revenues in a number of other sectors.
He says latest figures suggest there’ll be a five percent contraction for the June quarter alone.
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