New South Wales State Forecasts A$824 Million Deficit in 2012/13

New South Wales, home to about a third of Australia’s nearly 23 million people, forecast a wider budget deficit in the fiscal year beginning July 1.

The deficit will increase to A$824 million next fiscal year from a projected shortfall of A$337 million in the 12 months to June 30, Treasurer Mike Baird told the state parliament today, citing falling revenue from the Goods and Services Tax.

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