NSW:Global meltdown will hit budget: O'Farrell

AAP General News (Australia)
08-05-2011
NSW:Global meltdown will hit budget: O'Farrell

NSW Premier BARRY O'FARRELL has warned another global financial shock will make it
harder for the state to meet its budget commitments.

Fears of another global financial meltdown caused share markets around the world to
slump overnight.

Mr O'FARRELL says turmoil overseas will make it more difficult for the government to
secure the state's finances when it delivers the budget on September 6, but rejected a
suggestion the slower NSW economy made it more vulnerable to recession.

He's told reporters another global financial shock will affect all of Australia not just NSW.

AAP RTV saj/tr/psm/

KEYWORD: ECONOMY OFARRELL (SYDNEY)

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