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Summary
Jaclyn Symes is preparing to deliver her first state budget as treasurer of Victoria, facing challenges including a lack of fiscal headroom left by her predecessor Tim Pallas and scrutiny from credit agencies. Following downgrades from S&P and Moody’s, which have negatively impacted the state’s debt servicing costs, analysts urge fiscal discipline to maintain stable ratings while managing a significant infrastructure program costing $23.5 billion annually. The Allan Labor government is also considering public service job cuts to control rising expenses, aiming to prioritize funding for essential services like schools and hospitals.
