Western Australian iron ore revenue has increased significantly, achieving fiscal surplus for the first time in five years

In the fiscal year 2018-2019, WesternAustralia's iron ore revenue increased significantly, and goods and servicestax (GST) increased. Western Australia achieved its fiscal surplus for thefirst time in five years, two years ahead of schedule. During the fiscal year,Western Australian Finance Minister Ben Wyatt will submit the state budget onMay 9 to plan the fiscal surplus target. Two years ahead of the forecast byformer state finance minister McGowan. And a fiscal surplus is achieved oneyear ahead of the government's revised fiscal plan.