There is optimism for the ACT Economy, following the latest Territory Budget December Quarterly Update.
The budget deficit that was initially forecast is now almost $250 million lower, and now sits at $218.8 million.
The improvement comes off the back of a forecasted increase of GST revenue of $134 million, and Territory Taxation Revenue improving by $86.2 million.
Recent strong retail trade figures and strong credit card spending data, as well as an increase in the household savings rate, has Chief Minister Andrew Barr optimistic for the year ahead.
The ACT Government says it will continue to provide targeted economic support when and where it is needed.