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SUMMARY OF FINDINGS
GFS NET OPERATING BALANCE
The GFS NOB for the Non-financial Public Sector (NFPS) for all Australian governments combined is expected to decrease from $14,365m in 1999-2000 to $6,033 in 2000-01. This reflects an expected decrease in the General Government (GG) sector NOB from $13,713m in 1999-2000 to $3,264m in 2000-01, offset by an increase in the PNFC sector NOB from $700m in 1999-2000 to $2,679m in 2000-01.
The following graph shows, for each jurisdiction, the expected NFPS NOB for 1999-2000 and 2000-01.
GFS NET LENDING/BORROWING
The NLB for the NFPS for all Australian governments combined is expected to fall from $9,126m in 1999-2000 to $3,359m in 2000-01. This decrease reflects an expected decrease in the GG sector net lending from $10,002m in 1999-2000 to $3,087m in 2000-01, partially offset by a turnaround in the NFPS from net borrowing of $834m in 1999-2000 to net lending of $193m in 2000-01. The strong NLB for 1999-2000 is largely due to the growth in taxation revenue for all Australian governments, the sale of radio spectrum licences by the Commonwealth and the sale of the assets of electricity utilities in South Australia.
The following graph shows, for each jurisdiction, the expected NFPS NLB for 1999-2000 and 2000-01.
The surplus for the NFPS for all levels of government is expected to fall from $9,148m in 1999-2000 to $2,187m in 2000-01. This reflects an expected decrease in the GG sector surplus from $8,935m in 1999-2000 to $3,254m in 2000-01, and a turnaround in the PNFC sector from a surplus of $71m in 1999-2000 to a deficit of $714m in 2000-01.
Surplus/deficit results are summarised in the table below.
The following graph shows, for each jurisdiction, the expected NFPS surplus/deficit for 1999-2000 and 2000-01.
GFS NET WORTH (NW)
GFS NW reflects the contribution of governments to the wealth of Australia. The expected NW of the NFPS for all Australian governments was $275,921m as at 30 June 2000, an increase of $34,893m or 14.5% upon the NW of $241,028m as at 30 June 1999. This was due to an increase in total assets of $27,503m and a decrease in liabilities plus shares and other contributed capital of $7,390m. This change was largely due to an improvement in the Commonwealth government's NFPS net worth.
Balance sheet results as at 30 June are summarised in the table below.
The graph below shows the GFS NW for the Commonwealth and State and local NFPS for each jurisdiction as at 30 June 1999 and 2000 as a percentage of gross domestic product (GDP).
EXPENSES BY PURPOSE
The graph below shows the main purposes of the Australian general government sector expenses for 1999-2000 and 2000-01. Expenses on social security and welfare are expected to rise by $8,285m (13.5%) from $61,438m in 1999-2000 to $69,723m in 2000-01 and to account for 28.9% of total expenses in 2000-01 compared with 27.3% in 1999-2000. General government expenses on health are expected to increase by 6%, from $35,948m in 1999-2000 to $38,105m in 2000-01, and to account for 15.8% of total expenses in 2000-01.
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