South Australia is on track for a higher than expected budget surplus but it's likely to prove cold comfort for a state facing a jobs crisis.
The state's mid-year budget review forecasts a $355 million surplus next financial year, up from the $43 million surplus predicted in the June budget.
Questions remain about the fundamental health of the economy, given the improved forecast is largely due to a dividend from the looming privatisation of the Motor Accident Commission.
Treasurer Tom Koutsantonis says there's no quick fix to the state's woes but the larger surplus will send the right signals to business.
"You can't have confidence to invest if the state isn't in surplus," he told reporters on Monday.
"Now is not the time to risk taxpayers' money. It's not a matter of just opening a window and throwing money out. It's about a methodical, patient approach to investing in our economy."
SA has the highest unemployment rate among all states at 7.5 per cent, and there's more pain ahead with the looming closure of Holden in 2017.
Plans to abolish stamp duty on commercial property transfers have been accelerated to take immediate effect in the hopes of sparking business activity.
The government will also fund the construction of 1000 public homes over three years with proceeds from the sale of old Housing Trust stock and state-owned land.
Business leaders praised the government's efforts to stimulate the economy, saying it would provide the state with a powerful competitive advantage.
Opposition Leader Steven Marshall was unimpressed, saying the budget review contained almost nothing for jobseekers.
"The treasurer's incoherent economic policies are leading our state off a cliff," he said.
"What kind of economically illiterate government commits to delivering a growing surplus whilst creating no jobs in the middle of record unemployment?"
The government will pocket $403 million in funds generated by investment market returns on surplus assets held by the MAC.
It will spend $40 million over four years to hire more correctional officers in a bid to address overcrowding at the state's prisons.
Delays to the new $2 billion Royal Adelaide Hospital will drain $34 million from the budget over the next three years.
