Victoria Records Surplus, but Eyes Ballooning $194 Billion Debt Forecast

Victoria Records Surplus, but Eyes Ballooning $194 Billion Debt Forecast

Victoria has recorded a modest $600 million operating surplus—the first since the pandemic—but taxpayers are still staring down the barrel of ballooning net debt now forecast to hit $194 billion by June 2029. That’s an increase from the $167.9 billion projected for 2025–26, with debt servicing costs alone rising from $21 million to $29 million a day by 2027–28. Labor Treasurer Jaclyn Symes said the budget marks a “turning point,” insisting debt …