Victoria’s debt mushrooms out of control


Victoria is the nation’s most indebted state, with the lowest credit rating.

S&P Global projects Victoria’s debt to inflate to $247.2 billion by 2027, up from $55.2 billion in 2019, making it the worst-performing state in Australia:

Soaring state government debt

Victoria’s deteriorating fiscal position is built on waste.


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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.