WA budget rides the iron ore boom

Western Australia’s Department of Treasury has upgraded its forecast for the state’s 2020-21 Budget surplus to $3.1 billion, compared with expectations in December of just $2.2 billion.

The state’s improved fiscal position has been driven by continued strong demand for iron ore, with Treasury forecasting that the price of the steel input will average US 134.30 a tonne, including freight.

Its December forecasts were based on an iron ore price of $US 103.70 per tonne:

There are 1279 words left in this subscriber-only article.

Start your free 14-day trial today!

Comments are hidden for Membership Subscribers only.