Queensland’s debt levels will blow out to more than $100 billion by mid next year $18 billion more than what was predicted before the coronavirus pandemic hit.
Key points:
- The debt level before COVID-19 hit was forecast to be $84 billion
- The fiscal plan is the only major economic update for Queensland before the state election
- Labor said it will reveal its full budget in November if elected
The State Government’s fiscal economic update for the 2020-21 financial year has revealed the state coffers have been hit by a combination of increased borrowings and falling revenue, pushing the predicted debt level to nearly $102 billion.
It was forecast to be about $84 billion this financial year, before the health and economic crisis hit.
State revenu…
Read the full article at: https://www.abc.net.au/news/2020-09-07/queensland-treasurer-delivers-fiscal-budget-outlook-coronavirus/12628358
