Government Finance Statistics, Annual

Latest release

Statistics about finances of the general government and public corporation sectors for the various levels of government in Australia

Reference period
2022-23 financial year

Key statistics

In the year 2022-23:

  • General government net operating balance rose $73.0b from -$34.7b in 2021-22 to $38.3b
  • General government borrowing was $21.2b
  • Total public sector borrowing was $52.1b
  • All Australia general government net debt (L2) reached 30.6% as a percentage of GDP.

Unless indicated, all figures presented in this publication are current prices, original series.

Content published as web tables in previous Government Finance Statistics, Annual releases are available in the Key tables section of Data downloads below. Data downloads previously included in the Government Finance Statistics, Education publication (ceased 2020-21) are now included in this publication.

For the latest information on Government Finance Statistics, please visit the Government Finance Statistics quarterly publication.

Included in this publication is an Insights into Government Finance Statistics, Annual, 2022-23 which examines the key stories and economic narratives of the 2022-23 annual Government Finance Statistics data.

Government Finance Statistics measures

Government finance statistics fiscal measures, original
 2019-202020-212021-222022-232021-22 to
$m$m$m$m% change
Taxation revenue
 General government551,751593,105683,074755,80710.6%
Total revenue
 General government681,658728,022831,291923,80811.1%
 Public non-financial corporations90,01697,322103,196107,2313.9%
 Non-financial public sector (a) (c)746,142796,671907,1161,001,57410.4%
 Total public sector (b) (c)757,290810,128926,0691,024,85110.7%
Total expenses
 General government789,737873,523865,963885,4982.3%
 Public non-financial corporations99,359105,134104,714109,8995.0%
 Non-financial public sector863,560950,233943,471966,2142.4%
 Total public sector880,864968,346960,6261,000,3574.1%
GFS Net Operating Balance
 General government-108,079-145,501-34,67238,310np
 Public non-financial corporations-9,343-7,812-1,518-2,668np
 Non-financial public sector-117,418-153,562-36,35535,360np
 Total public sector-123,575-158,218-34,55724,494np
GFS Net Lending (+)/Borrowing (-)
 General government-151,736-192,914-87,346-21,196np
 Public non-financial corporations-18,532-14,484-11,296-19,598np
 Non-financial public sector-170,300-207,859-98,878-41,176np
 Total public sector-176,496-212,548-97,181-52,080np

np indicates this value not available for publication but included in totals where applicable, unless otherwise indicated

  1. The non-financial public sector comprises general government and public non-financial corporations.
  2. The total public sector comprises general government, public non-financial corporations and public financial corporations.
  3. The sum of individual levels of government or sectors may not agree with the non-financial public sector and total public sector figures due to transfers between level of government.

Net operating balance

All levels of general government net operating balance was $38.3b in 2022-23.

Net worth

Net worth for all levels of general government rose $197.6b to $1217.2b in 2022-23 as the increase in assets was greater than the increase in liabilities. Commonwealth government drove the rise due to a fall in debt securities, a fall in provisions for employee entitlements other than superannuation, an increase in currency and deposits, and an increase in equity including contributed capital.

Net debt

All Australia general government net debt (L2) reached $783.8b or 30.6% of GDP in 2022-23. 

  1. L2 debt is comparable to government reporting of net debt under Australian accounting standard
  2. Using the GDP annual, current prices series as published in Table 36 in the December quarter 2023 issue of Australian National Accounts: National Income, Expenditure and Product.  

Revisions and changes


Divergences with government fiscal reporting

Previous catalogue number

Data downloads

Government Finance Statistics, Annual, 2022-23

Data files

Related releases

Taxation Revenue, Australia

Statistics about taxation revenue collected by the various levels of government in Australia.

The 2022-23 issue of Taxation Revenue, Australia was published on 23 April 2024.

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