Our plan puts Tasmania on track for continued economic growth

July 18, 2022

Michael Ferguson, Treasurer

Deloitte Access Economics’ business outlook for the June quarter 2022 confirms that our clear plan to strengthen Tasmania’s future is working for our community – and as a result, our economy is set to grow.

The report notes that “Tasmania has been living a dream for most of the pandemic. By keeping COVID largely at bay, and therefore businesses open and consumers relatively confident, the state has seen household demand rise sharply through 2021.”

Deloitte recognizes the strength of the Tasmanian economy, forecasting economic growth of 5.8% in 2021-22, and while some moderation is expected in the coming years, our strong housing construction pipeline, our levels of near-record employment and our major infrastructure projects should contribute to continued growth.

Deloitte also notes that Tasmania’s international exports have performed well and that over the next 12 months international trade is “Prepared to boost Tasmania’s economy, with exports of goods set to outpace imports.”

Our team has worked hard, together with businesses and the wider community, to achieve these results. We create products and services the world wants, and our plan is designed to ensure that our economy continues to reap the rewards. That’s why our new Tasmania Trade and Investment Mission Plan 2024 will see delegations covering New Zealand, Singapore, Vietnam, Indonesia, Japan, South Korea, United States of America , the UK and Europe.

We entered the pandemic from a position of strength and it is pleasing that commentators such as Deloitte recognize the continued true resilience of our economy. Through our determined efforts to implement our plan, we have gone from being a national laggard to a national leader.

To pursue these ambitions, the Liberal Government of Tasmania is supporting Tasmanians, our businesses and our community in delivering our plan to strengthen Tasmania’s future.

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