Gladys Berejiklian and NSW Government

surplus: The government is also forecasting surpluses, albeit smaller ones, over the next three years."Above-trend economic growth is expected to continue over the next two years, with gross state product forecast to grow three per cent in 2016/17 and 2.75 per cent in 2017/18," NSW Treasurer Gladys Berejiklian said, according to Nine News Australia. The state posted a surplus of $3.4 billion for the current financial year, thanks in part to the booming housing market. The NSW government has forecast a surplus of $3.7 billion for the 2016/17 financial year in Tuesday state budget, improving on the $3.2 billion surplus predicted during its mid-year budget review in December. Transfer duties, which make up more than 11 per cent of government revenues, exceeded expectations in 2015/16. The state will also benefit from higher taxes - announced earlier this month - on foreign investors looking to buy residential property. They will continue growing over the next four years, although at a more subdued pace of 2.4 per cent annually."While the current housing cycle is longer than previous cycles, historically low interest rates, strong population growth and continued supply limitations are expected to support activity," the government budget papers said. (news.financializer.com). As reported in the news.