Two new reports suggest Queensland could have the fastest-growing economy of all the states, Treasurer Tim Nicholls says.
Queensland’s economy is on track to become the fastest growing in the nation, the state’s treasurer says.
Tim Nicholls says two reports released on Monday confirm Queensland’s status as an economic powerhouse.
CommSec’s State of the States report and the Deloitte Access Economics Business Outlook show a very promising future for the state, Mr Nicholls said.
“The CommSec report shows Queensland is the second-best performing state on a range of measures, including economic growth, retail spending and construction work,” he said in a statement.
“Queensland is also the leading state when it comes to equipment investment.”
Mr Nicholls said the state’s property sector was heating up and Deloitte had predicted Queensland would have the fastest-growing state economy over the next two years.
He said the report noted potential for growth in the retail and housing construction sectors, but the state would have to pay down $80 billion in debt to secure growth.