Canberra's stock of public housing has failed to keep up with population growth and planned extra dwellings would only return the number of properties to 2018 levels.
An independent review of the territory's budget papers noted the ACT's population had grown by just over 24 per cent between 2011 and 2022 but public housing stock "remained stagnant and even slightly declined since 2018".
The ACT has 10,744 public housing properties, data released in January from the Productivity Commission's annual reports on government services showed.
The territory had 11,181 public housing dwellings in 2018, down from 11,619 in March 2008.
The ACT government plans to add 400 new public housing properties to its stock by 2025.
Housing Minister Yvette Berry in November 2022 said it was unlikely the public housing stock would have any notable increase for another two years.
A parliamentary inquiry into cost-of-living pressures in May recommended Housing ACT's capacity to deliver more public housing needed to expand and the territory should buy dwellings in the private market to boost stock.
The review of the territory's budget papers found the economic forecasts were reasonable and the ACT had a strong balance sheet.
"The main risk to the economic outlook is if the Australian economy goes into recession, dragging the ACT economy with it, a risk that is acknowledged by the ACT government," the report said.
The consumer price index forecasts were lower than the recent national forecasts, which may attract some risk, the report found.
The Pegasus Economics report also noted it appeared the ACT was not increasing general rates fast enough to make up for the reduction in stamp duty in its 20-year tax reform program.
The report questioned the inclusion of pay rises for ACT public servants in a cost of living statement released as part of the budget.
"While such pay increases will undoubtedly ease cost of living pressures experienced by individual ACT public servants, it is also the case that part of the financing burden for these pay increase will ultimately fall on all ACT ratepayers, thereby increasing cost of living pressures upon all ACT ratepayers," the report said.
"Rather than easing cost of living pressures in general, pay increases for the ACT public servants appear to be more akin to a zero sum game."
The territory was also unlikely to achieve its goal of fully funding its superannuation liability for public servants receiving or due to receive defined benefit superannuation by 2030, the report said.
The review was released on Friday by the Legislative Assembly's select committee on budget estimates, ahead of its public hearings that start on Monday, July 17.
The review was critical of the government's budget wellbeing statement, which it found "does not yet allow for informed assessments of actual improvements in well-being achieved as a result of past initiatives or the future improvements in well-being expected to be achieved".
Budget transparency was also found to be lacking in parts, including in areas of payments from territory trading enterprises and technical adjustments.
"There is no disclosure in the Other General Government Sector Statements of key assets such as work-in-progress, investments and loans, investments in other public sector entities, and produced and non-produced property plant and equipment, or key liabilities such as advances received, borrowings, superannuation and employee compensation," the review said.
"Pegasus would also have expected a breakdown of key financial statement items."
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