Treasurer Cameron Dick revealed the state’s finances had been significantly impacted by COVID-19, with debt set to increase to $102 billion and the budget deficit to swell to $8.63 billion.
The document also predicts four more years of deficits before a surplus is reached, and forecasts debt will climb to almost $130 billion by 2023-24.
Mr Dick defended the figures, saying the government will borrow less than Victoria ($192 billion) and New South Wales ($191 billion) and had to deal with revenues that were $12.3 billion lower than forecast.
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