NSW Government forecast shows coronavirus to slash up to $20 billion from state's economy

The coronavirus pandemic could see between $10-20 billion slashed from New South Wales revenue, with the Treasurer revealing "the hit to the economy is real". Key points: The Government half-year review in December forecast average surpluses of $1.9 billion over four years The Government half-year review in December forecast average surpluses of $1.9 billion over four years Projections now show large budget deficits with almost all revenue sources affected Projections now show large budget deficits with almost all revenue sources affected The Government says its proposed 12-month public sector wage freeze will save $3 billion Large budget deficits are expected over the next four years, with projections showing nearly all government revenue sources will be affected. It's a far cry from the Government's half-year review six months ago which forecast average surpluses of $1.9 billion over the next four years. The grim economic forecast followed Wednesday's announcement by the Government that it would freeze public sector wages for 12 months in a bid to save the state $3 billion. Stay up-to-date on the coronavirus outbreak Download the ABC News app and subscribe to our range of news alerts for the latest on how the pandemic is impacting the world Opposition Leader Jodi McKay described the wage freeze as "a slap in the face and a kick in the guts for all public sector employees" at a time when health care workers and other frontline staff were working to rid the state of COVID-19.