Victoria’s treasurer flags surplus in 2025/26 ahead of the state budget

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Victoria’s treasurer flags surplus in 2025/26 ahead of the state budget
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Tim Pallas says Tuesday’s budget shows the state performed better than expected this financial year

He said there would also be measures to encourage Victorians to see a GP for specialist referral sooner, ensuring fewer end up in the public hospitals.

The budget will show that the Victorian economy is expected to be 8.7% bigger at the end of 2021/22 than it was in 2018/19 – the last full financial year before the pandemic. Employment growth is expected to reach 1.75% in next financial year and 1% in 2023/24, before rising to 1.75% in 2025/26.Sign up to receive the top stories from Guardian Australia every morning

The government says since September 2020 – the height of the pandemic economic shock – 280,000 extra Victorians have found work.

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