Leader of Australia's biggest state economy quits politics

State Premier Mike Baird, the leader of Australia's biggest state economy, New South Wales (NSW), announces his resignation during a media conference in Sydney, Australia, January 19, 2017. AAP/Paul Miller/via REUTERS

SYDNEY (Reuters) - The leader of Australia's biggest state economy, New South Wales (NSW), on Thursday announced his resignation from politics two years out from the next election, citing ill-health in his family as one reason for his surprise departure.

State Premier Mike Baird has overseen major privatisation and infrastructure investment in Australia's most populous state, which is worth A$530 billion ($398.19 billion) and larger than the economies of Thailand, Malaysia and the Philippines.