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budget.vic.gov.au

Victoria's recovery

This has been a year like no other.

Family at outdoor event

At the start of 2020, we faced a devastating bushfire season. Weeks later, a global pandemic – a once in 100-year event – arrived at our doorstep.

Now, as the year closes out, we begin our State’s recovery.

At the very heart of our recovery effort – people. That means protecting and creating jobs. Looking after families. Taking care of Victorians’ loved ones.

Building strong and connected communities. And setting our State up for a strong recovery.

Underpinning it all – a strong economy that works for working people.

A health recovery first

As a global pandemic descended upon us, we knew we had to act – fast.

Economic outlook and recovery

Before the pandemic, we faced a very different scenario.

Financial outlook

As a result of the Government’s strong financial management, Victoria had sound public finances coming into the pandemic.

Fiscal strategy

In Labor’s Financial Statement 2018, the Government committed to stabilising net debt at 12% of GSP over the medium term to deliver three major infrastructure projects

Reviewed 23 November 2020

Budget 2020/21