The South Australian government’s economic stimulus amid the COVID-19 outbreak is the nation's second biggest, just behind New South Wales, according to the report from the federal Parliamentary Budget Office.
The state government is investing 3.6% of the gross state product (GSP) for the COVID-19 fiscal response. This is higher than in Victoria (2.8%) and Western Australia (1.9%).
Treasurer Rob Lucas said the record $4bn state stimulus leveraged an extra $1bn in Commonwealth, local government, and business funds.
"We welcome the federal Parliamentary Budget Office report, which has found that we are outperforming almost every other state and territory with our stimulus spend — contributing more as a per cent of GSP than any state or territory, except New South Wales,” he said.
Lucas said the government is investing in a record $16.7bn infrastructure pipeline, including the North-South Corridor final stage, a redeveloped Memorial Drive and Hindmarsh Stadium, as well as upgrades to schools and hospitals across the state. These will create thousands of jobs, including for local tradespeople.
"The government is spending record amounts on our targeted stimulus to turbo-charge the state’s economic and jobs rebound over the next two years,” Lucas said.
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