Mid-year economic outlook reflects calls from the sector to attract investment

Click here for photo of QRC Chief Executive Officer, Janette Hewson

Wednesday’s Mid-Year Economic and Fiscal Outlook released by Federal Treasurer, Jim Chalmers, is a stark reminder about the importance of resources to Queensland.

Over the past 15 years Queensland’s resources sector delivered $1.2 trillion to the state economy and contributed a record-breaking $120.2 billion in 2023-24.

The Queensland Resources Council (QRC) welcomed the Crisafulli government’s reestablishment of the Resources Cabinet Committee that met for the first time this week with the intention of restoring confidence in the sector.

Janette Hewson, Chief Executive Officer of the QRC said that the mid-year outlook reflects the cyclical nature of the industry.

“This is an industry that is driven by market forces and must respond to changes in domestic and global markets,” said Ms Hewson.

“It’s important we have stable policies that drive productivity, sustain investment and create jobs while times are good or when commodity prices are down.”

“Last year our sector contributed 24% to Queensland’s economy and we must safeguard this for future generations by attracting a pipeline of investment in traditional and future facing commodities.”

“The resources sector is one of Queensland’s largest industries and one of the state’s top employment generators, supporting 62,730 direct jobs.”

Media Contact: Jana Dore – [email protected]