South Australia’s economy grew by 1.3 per cent in 2012/13, vindicating the government’s handling of the state’s finances including its major infrastructure spend, Premier Jay Weatherill says.
The state’s economic performance was underpinned by growth in the construction, mining, eduction and training and health care sectors.
Housing construction dipped by 11 per cent, but was heading for a much deeper fall before the state government offered grants and stamp duty relief, the premier said.
Mr Weatherill said while growth last year was less than the 1.8 per cent achieved in the previous 12 months, it came in the face of tough conditions.
“What it represents is extraordinary resilience in the face of all the global financial forces that were actually coming our way,” the premier told reporters on Thursday.
“This should give South Australians the comfort to know that we have a strong and resilient economy.
“That even when everything is thrown at us we come through the other side, we still grow and the prospects for the future are strong.”