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The Guardian - AU
The Guardian - AU
National
Benita Kolovos Victorian state correspondent

Victorian budget 2026: state records first post-pandemic surplus but financial health uncertain as debt nears $200bn

Victoria Jaclyn Symes Jess Wilson Labor Jacinta Allan Covid-19 Pandemic
Victorian Treasurer Jaclyn Symes addresses the Victoria State Budget 2026/27 lockup in Melbourne and stands at a lecturn in front of flags
The Victorian treasurer, Jaclyn Symes, has projected a $1.05bn surplus in 2026-27, down by $895m on December’s forecast. Photograph: Joel Carrett/AAP

Victoria has recorded a surplus for the first time since the pandemic but the state’s financial recovery remains uncertain with debt forecast to near $200bn in coming years amid global uncertainty.

The 2026-27 Victorian budget, handed down on Tuesday, shows the state recorded a $727m operating surplus in 2025-26, a slight improvement on December’s pre-budget update of $710m and the $611m forecast last May.

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