The debt level improved by $73 million improvement on the year before, however.

Treasurer’s 2017-18 Annual Financial Report, released this week, showed the government had achieved a surplus for the third year in a row.

Prior to this, there had been no budget surplus after 2009-10.

Last financial year’s surplus was $72 million more than what had been estimated.

This was due to better than projected revenue from transactions ($6 billion), $128 million more in grants, $32 million more in taxation revenue and $31 million more from income related to dividends, tax and rate equivalents.

With expenses, employee costs were higher than anticipated ($168 million) as was superannuation ($36 million).

The budget’s underlying net operating balance, which takes away federal government funding for specific capital projects like roads funding and money for the Royal Hobart Hospital redevelopment, showed a $21 million deficit.

This was better than the predicted $96 million deficit. 

The report showed the government’s superannuation liability was $8.27 billion – $404 million more than the previous financial year.

The government received $380 million from its government business enterprises.

This was above the budgeted $350 million figure and more than the $277 million it received in 2016-17.

Treasurer Peter Gutwein said the state’s budget position meant it could deliver on election commitments, would not have to introduce or increase taxes, and could deal with unexpected weather events.