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Victoria’s 2025‑26 Mid‑Year Financial Report was released on Friday and showed that the state’s net debt has increased by $10 billion in six months, reaching $160.9 billion:
Net debt as a share of the state economy has risen from 23.7% to 24.2% in six months.
Interest costs are also escalating. $3.8 billion was spent on interest in the first half of the year, $522 million more than the same period last year.
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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.