S&P Global Ratings contends that Victoria will emerge from the pandemic in the weakest financial position of all the states and territories, and will have more than triple the debt it did before the pandemic.
S&P tips that the majority of the states and territories will have more than double the debt they did in 2019, with the exception being Western Australia:
“We anticipate record infrastructure spending and lower revenue streams over the next decade,” the report stated, adding infrastructure commitments and the Covid-19 hit to finances would “drive debt to record levels”…
