The state's peak business organisation, the NSW Business Chamber, has praised the NSW Government's financial management following the release of the Total State Sector Accounts.
The figures, announced today by Treasurer Gladys Berejiklian, show that the NSW economy is now debt-free and in a cash positive position.
"This is great news for the people of NSW," said NSW Business Chamber CEO Stephen Cartwright.
"This impressive fiscal position reflects five years of disciplined and responsible economic management under the O'Farrell and Baird Governments.
"This Government is the shining light for all of the other governments across the country.
"Solid economic management, and returning NSW to a debt free economy, means that the AAA credit rating is protected, making it easier to borrow money down the track, and it restores our state's reputation as a great place for international companies to invest and to do business.
"The NSW Business Chamber has seen, through our quarterly Business Conditions Surveys of members across the state, the NSW business community is quietly optimistic about the months ahead - and those feelings have been backed up by the release of these figures.
"There's nothing that build business confidence and optimism more than knowing that their Government is also upholding its end of the bargain - so I expect business owners across NSW will be delighted with this news.
"I'm certain that the economic position of NSW - which has long been the powerhouse of the national economy, may well encourage some interstate business owners to set up operations in NSW - which is more great news because this business confidence and investment brings employment opportunities, especially for our young people.
"While it's easy for the media and general public to become distracted by sideshow issues rather than objectively assessing the overall economic performer of the Government over the past five years, the business community is fully appreciative of this solid economic management because it ultimately benefits every citizen in the state," Mr Cartwright said.