The Australian is simply out of date:
State government debt will more than double to nearly $500bn within four years, exceeding the peak level of borrowing as a share of GDP reached in the early 1990s recession and leaving states exposed to credit rating downgrades.
Borrowing by the six state governments, including their state-owned corporations, is on track to rise from $200bn in June this year to $491bn by June 2024, according to an analysis of state government budgets by The Australian.
