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NSW:'Basics' budget the start of Labor state election pitch

Despite the World Cup match playing in his office, Daniel Mookhey is more comfortable trying to balance his state's budget than a soccer ball.

The NSW treasurer will be delivering his fourth budget for the nation's largest state economy on Tuesday - and potentially his last, pending the outcome of the election scheduled for March.

It comes at a time of multiple economic headwinds, including rising interest rates and a stalled property market, and the fallout from the war in the Middle East putting a further brake on the already sluggish Australian economy.

While the NSW economy was expected to grow by 2.5 per cent in the coming financial year, that forecast has been downgraded to a meagre one per cent, Mr Mookhey revealed in a recent speech.

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