In its new analysis of Tasmania's economy, Moody's wasn't convinced that infrastructure spending projections in Premier and Treasurer Peter Gutwein's seventh budget stacked up.

"Notwithstanding the budgeted increase in debt-funded infrastructure spending, we consider slippage over the forward estimates period is highly likely," the State of Tasmania report, released on Thursday, said

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"This reflects our view that the scale of infrastructure spending will be difficult to deliver within the projected timeframes."

Moody's has also sounded the alarm over the state's falling GST receipts in the wake of the pandemic, as well as the impact that Canberra's tensions with Beijing could have on the Chinese tourism market into the future and the state's seafood exports.

"The state remains heavily exposed to Australia's broader economic recovery due to its high dependence on Commonwealth transfers which are projected to contribute approximately 63.3 per cent to total budgetary revenues in fiscal 2021," the report read.

Mr Gutwein is adamant that the government will be able to deliver its massive $4.7 billion infrastructure spend by 2023-24 (the end of the forward estimates period).

"The key thing is that what we've done is we've set a $5 billion investment into infrastructure that will touch roads, it will ensure that investment into health, education [and] housing is spread right across the state," he said. "Importantly, this is about jobs."

Mr Gutwein said his government's $3.4 million investment to better resource the Land Titles Office and Crown Land Services would make easier the task of efficiently delivering the infrastructure funding.

Shadow treasurer David O'Byrne, however, said the Moody's report offered a damning insight into the government's track record on infrastructure.

"Moody's has called out the con job that is the Tasmanian state budget," he said. "[It's] just confirmed what Tasmanians know: and that is that this government is highly unlikely to deliver on its infrastructure strategy."

"What that means is this is not a budget for jobs, this is a budget for higher unemployment."

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Meanwhile, Tasmanian Chamber of Commerce and Industry chief executive Michael Bailey said the budget should have provided for a bigger boost to public sector employment so as to ensure infrastructure dollars could be released in a timely way.

"We'd hoped there would be also a look at the structure of the public service, particularly in the effort to get this infrastructure money out the door," Mr Bailey said. "Last year, Tasmania was 8 per cent down in its infrastructure spending."

"So the focus is going to be back to the [public service] and the support that's going to be needed with engineers, planners and others to make sure that the money can actually get out the door when it's needed."

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