People queue at a supermarket in Adelaide, Australia, on Nov. 18, 2020.Brenton Edwards/AFP via Getty Images
South Australians’s net debt is projected to reach $53.7 billion (US$38.3 billion) by 2030 under the Labor Party’s budget handed down on June 4, with the government announcing a partial hiring freeze on public service as it grapples with rising interest costs.
Net debt is expected to reach $34.7 billion in 2025-26 before increasing to $40.3 billion the following financial year and continuing to rise over the forward estimates.
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