NT in "financial hole": Giles

The Northern Territory could be hundreds of millions of dollars worse off next financial year because "GST receipts are going through the floor", the chief minister says.

Adam Giles will get an update from the federal government on Monday but he said the NT was "looking at being hundreds of millions of dollars worse off".

"We're in a bit of a financial hole at the moment, from a budgetary point of view," he told ABC radio on Friday.

He said government royalties from the resources sector and from stamp duty had dropped, along with consumer spending, which meant "GST receipts are going through the floor".

About half of the Territory's last budget was funded by GST revenues, and it receives about five times more than it would be entitled to under an equal per-capita share.