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STATES’ DEBT BINGE TO TOP $400B, RAISE RATES PRESSURE

Michael ReadEconomics correspondent
Nov 2, 2023 – 5.14pm
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State governments will take on $160 billion in additional debt over the next
four years, counter to calls from economists for premiers to rein in spending to
prevent the Reserve Bank from having to raise interest rates further.

State government net debt is projected to surge 66 per cent over the next four
years to $404 billion in 2026-27, from $243 billion in 2022-23, according to
newly released analysis from the Parliamentary Budget Office.



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