Victorian Treasury officials warned the new Carroll government in August that the state’s soaring debt levels and rising interest repayments were forecast to breach critical thresholds that could result in a credit rating downgrade.
With net debt forecast to climb to $197 billion and interest repayments projected to cost taxpayers $12 billion in mid-2030, Victoria’s path out of financial strife is increasingly precarious and polling shows the issue is of growing concern to voters heading to an election on November 28 .
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