You don’t need an economist to tell you Victoria’s finances are cooked. You can see it in the state’s crumbling roads, the long elective surgery waiting lists and the closed police stations.
But if you asked one to interpret the budget papers, they would tell you the state’s cash deficit will total about $30 billion over the next four years, net debt will rise to almost $200 billion and interest repayments will gobble up about $11 billion a year by mid-2030.
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