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Public debt and deficit to shape Victoria's long recovery

Tom Burton

The Victorian government is borrowing $155 billion to fuel a major four-year recovery package after the state budget revealed the full economic impact of six months of COVID-19 restrictions and lockdowns.

The massive fiscal package comes as the budget predicted the Victorian economy would contract 4 per cent this financial year and was unlikely to return to pre-pandemic activity levels until mid to late 2021.

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Tom Burton was government editor at The Australian Financial Review.

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    Original URL: https://www.afr.com/policy/economy/delayed-recovery-predicted-for-victoria-20201124-p56hhd