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ABC News
ABC News
Business

Premier warns of 'challenging budget' ahead as government feels interest rate pinch

Rising interest rates have seen payments on the Victorian government's debt grow past 2022 estimates. (ABC News: Danielle Bonica)

Interest payments on Victoria's debt have ballooned past original estimates as the Andrews government grapples with rapid rate rises.

The latest estimates from the government have interest expenses at hundreds of millions of dollars more than initially forecast last May.

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