Victoria’s net debt is expected to rise from $115 billion at present to more than $165 billion by 2025-26.
The interest expense on the debt is expected to increase to $7.32 billion by 2026 amid the state’s poor credit rating.
Premier Daniel Andrews has conceded that the state budget on 23 May will be “challenging”, which he says is at least partly due to Victoria having been short-changed by the former federal Coalition government.
