The Data Explorer allows you to compare fiscal trends across jurisdictions, and gain deeper insights into the analysis presented in the 2026-27 National Fiscal Outlook. The interactive charts explore key indicators from the Commonwealth, state and territory, and local government sectors from different perspectives.
For deeper analysis and insights, read the full report: 2026-27 National Fiscal Outlook.
Net Operating Balance
The net operating balance is an accrual budget aggregate equal to the government's revenue minus its expenses.
Figure 1: Net operating balance – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Fiscal Balance
The fiscal balance is equal to the government's revenue minus its expenses, adjusted for government capital investments when they are acquired or sold. It reflects an accrual accounting framework.
Figure 2: Fiscal balance – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Net debt
Net debt is a widely used measure of the strength of the government’s balance sheet. Net debt is the sum of selected financial liabilities (deposits held, advances received, government securities, loans and other borrowings) less the sum of selected financial assets (cash and deposits, advances paid, and investments, loans and placements). It does not include superannuation-related liabilities or superannuation-related assets.
Figure 3: Net debt – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Net financial worth
Net financial worth is a broader measure of the strength of the government’s balance sheet than net debt. Net financial worth is the sum of all financial assets (such as cash or shares in a company) less the sum of all financial liabilities, such as outstanding debts and superannuation-related liabilities.
Figure 4: Net financial worth – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Gross debt
Gross debt is the total amount of government debt before considering a government's financial assets that partly offset that debt. Looking only at gross debt without net debt could give an incomplete picture of a government's financial position.
Figure 5: Gross debt – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Public debt interest (PDI)
Public debt interest is the borrowing costs of the government, mainly incurred through issuing and servicing government debt. It is recorded as a cost to government in the budget.
Figure 6: Public debt interest – National, Commonwealth and States
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Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Figure 7: Public Debt Interest as % of revenue – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Note: This ratio shows the proportion of government revenue dedicated to interest costs on debt.
Net capital investment
Net capital investment, sometimes referred to as ‘net acquisition of non-financial assets’, is calculated by deducting the value of any sales of non-financial assets from the value of non-financial assets purchased, adjusted for changes in the value of non-financial assets, such as for depreciation.
Figure 8: Net capital investment – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Revenue
Revenue is government income, recorded at the time it is earned, as reported on an accrual accounting basis.
Figure 9: Revenue – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
Expenses
Expenses in the budget context refers to the cost of providing government services, excluding costs related to revaluations such as the write down of assets. Expenses are recorded when costs are incurred, regardless of whether any cash is paid. This reflects an accrual accounting framework.
Figure 10: Expenses – National, Commonwealth and States
Source: Australian Bureau of Statistics, Commonwealth and State budget papers and PBO analysis.
2026-27 National Fiscal Outlook
This report combines Commonwealth, state and territory budget data to examine the fiscal outlook across all levels of Australian government.
Read the full report for deeper analysis and insights: 2026‑27 National Fiscal Outlook.
The technical appendix, data pack and historical budget forecasts for all states and territories provides further information on the data sources and method used in this report.