The government expects a surplus of $101.9 million for the 2018-19 financial year, a figure Treasurer Peter Gutwein on Thursday described as modest.

Treasury had previously estimated a $41.3 million surplus for the financial year.

The state budget in May foreshadowed an "efficiency dividend" from government departments and agencies.

That would involve $450 million worth of savings over four years, including $50 million this financial year.

Mr Gutwein showed no sign of reversing on that when he released Treasury's 2018-19 Preliminary Outcomes Report on Thursday, instead noting the government's spending on health, education and "keeping the community safe" and its infrastructure plans.

"The report shows the government is on track to deliver a surplus for the fourth year in a row of approximately 1.6 per cent of revenue," Mr Gutwein said.

"At the same time, the report shows that the government continues to have a strong balance sheet, holds net cash and investments, as opposed to net debt, which puts us in a strong position to deliver the record infrastructure investment in the 2019-20 budget.

"Only by keeping the budget strong can we deliver record investments in health, education and keeping the community safe, as well as building the infrastructure our growing state needs."

Mr Gutwein said Tasmania had gained about 13,000 jobs since the government took office (in 2014) and its economic growth had become the nation's strongest.

Shadow Economic Development Minister Michelle O'Byrne said Tasmania was in a jobs emergency "under the weak leadership of Will Hodgman".

"Labour force figures today confirm that Tasmania's jobless rate of 6.7 per cent is still the worst in the country, while underemployment and participation rates remain diabolical," Ms O'Byrne said.

"More than 5100 full-time jobs have been shed over the past 12 months while (Premier) Will Hodgman fails to act."