Victoria to Run a $7.5 Billion Deficit

Premier of Victoria Daniel Andrews speaks to the media at the daily briefing on July 11, 2020 in Melbourne, Australia. Darrian Traynor/Getty Images

Victoria’s budget is expected to run a $7.5 billion deficit for the 2019/2020 financial year.

Treasurer Tim Pallas revealed the startling figure in an economic update on July 23.

Coronavirus, which is ravaging Victoria with a savage second wave, has been blamed for the dire financial situation.

Kaitlyn Offer in Melbourne