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Queensland economy ‘in recession’

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Queensland Treasurer Curtis Pitt believes upcoming Australian Bureau of Statistics figures will support his claim the state slipped into recession in the second half of 2014.

But the state will see strong growth on the back of liquefied natural gas exports, Mr Pitt said.

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Business groups and the opposition have cast doubt on claims Mr Pitt made in parliament on Thursday that Queensland had dipped into a recession last year.

However, the treasurer doubts there will be much variation between state treasury and official ABS figures when they’re released in June.

“It is unlikely that (the growth data) is going to be going into positive territory. If it does go into positive territory I will be the first to make the statement to say that is the case,” he said on Friday.

Shadow Treasurer John-Paul Langbroek said the Treasurer had been making reckless statements and damaging confidence.

“Everyone is saying they are over-the-top statements,” he said.

But Mr Pitt insisted he wasn’t trying to talk down economy or scare people.

“We are in the position right now of seeing some very positive economic indicators as I’ve said,” the treasurer said.
”We are in a position in Queensland where …. there is a terrific opportunity to go forward into the next phase of growth.”

 

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