The Rockliff Liberal Government welcomes the release of the December 2023 Deloitte Access Economics Business Outlook report, recognising the true strength in the Tasmanian economy.
Treasurer, Michael Ferguson, said Deloitte’s latest Business Outlook has significantly revised up its forecast for Tasmania’s economic growth in 2023-24 to 1.9 per cent, placing our economy ahead of the forecast national average of 1.5 per cent.
“Deloitte notes that private investment grew by 5 per cent in the September quarter, forecasts growth of 9.4 per cent in 2023-24 – no doubt as a result of the business friendly environment that is helping Tasmanian businesses to be the most confident in the country according to NAB,” Mr Ferguson said.
“The Business Outlook also observes that services exports have consistently increased as international students and tourist arrivals to Tasmania continue to recover after the impact of the pandemic. Deloitte expects this trend to continue into 2024, with services exports forecast to grow faster than all other states and territories.
“Whilst all Australian states and territories are grappling with the economic headwinds being experienced nationally, it is pleasing to note that Deloitte expects continued growth in the Tasmanian economy.
“Today’s news is on back of the December 2023 NAB Monthly Business Survey showing that the Rockliff Liberal Government’s long-term plan for Tasmania is working, as Tasmania leads the nation in business confidence and business conditions.
“Recent ABS data showed the Tasmanian State Final Demand is one of the nation’s leaders on the back of strong business investment, and these confidence and conditions figures back that in.
“Our Government is getting on with the job of growing our economy, building confidence and delivering the biggest infrastructure agenda in Tasmania’s history that secures jobs for years to come.
“It’s only a strong economy that enables Tasmanians to put a roof over their head, put food on the table and pay their bills.
“It is clear that only the Rockliff Liberal Government has a strong plan to grow Tasmania’s economy and promote investment and jobs – and that plan is working.”
