Victoria Treasury forecasts $1 billion surplus despite track record of overestimation

Victoria's Treasury forecast a $1 billion surplus for the coming year, but history suggests skepticism is warranted. Final audited figures show Treasury overestimated four of the past five budgets, with the 2024-25 deficit $435 million worse than predicted. The current forecast relies on optimistic assumptions including 1.5 percent economic growth, significantly higher than analyst predictions of 0.7 percent.

Summary by Glance · SMH