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“The territory remains one of Australia strongest economic performers,” he said. “In 2018 19, our real gross state product increased by three per cent, the second highest equal growth rate of any jurisdiction in Australia.” Revenue is expected to be down more than $104 million than predicted at the June budget. The budget papers blame the downturn on a $17.6 million decrease in Commonwealth government grants, largely due to lower GST revenue, as well as lower income from land sales.
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