State Budget 2015-16 - Level of Nominal Gross State Product

The Department of Treasury and Finance (DTF) monitors economic conditions in the Victorian economy and prepares forecasts of the main economic indicators of those conditions twice yearly for the current and four-ensuing years (the out-years). The economic forecasts underpin the Government's fiscal outlook presented in the Budget and Budget Update. The key economic indicators forecast growth in real gross state product (GSP) and the level of nominal GSP; growth in employment and the unemployment rate; growth in wages; growth in consumer prices (the CPI) and population growth. For further information refer to the Macroeconomic indicators methodology for making forecasts of macro-economic indicators.