Aug 27, 2026 – 4.08pmPersistent budget deficits driven by an ageing population will push NSW gross debt to 90 per cent of gross state product in 40 years, though the Minns Labor government insists the trajectory marks a significant improvement on its Coalition predecessor.The 2026-27 intergenerational report, release by the state government on Thursday projects a budget deficit of 1.2 per cent in 2065-66, representing a fiscal gap of 0.1 per cent of gross state product compared with 2024-25 but “significantly lower” than the 2.6 point fiscal gap projected in 2021-22.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles