The Northern Territory economy shrunk by 5.2 per cent to $30.1 billion last year, driven by declining net exports, according to new government data, which casts further doubts around the Lawler Government’s claims of building a $40 billion economy by the end of the decade.
Figures from the Department of Treasury and Finance show the NT’s economy was the weakest in the nation with gross state product (GSP) falling 5.2 per cent last year.
$40 billion Economy is a election marketing campaign by a bunch of teachers, a shelf stacker and a union rep.
The real number too be discussed is the circa $10 billion in debt with nothing to show for it!
The only “$40 billion economy” we are heading towards is exporting debt. I’m not an economist, and welcome being corrected, but business investment rising less than 1/3 of public investment seems like a poor return on any stimulus the government might be hoping for.