several institutions have criticised overly optimistic state budget forecasts<\/a>.<\/p>\n\u201cThis year\u2019s state budgets continue to project that operating expense growth will moderate across the four-year forecast horizon,\u201d S&P\u2019s director of Asia-Pacific public finance Martin Foo said.<\/p>\n
\u201cThese spending projections appear optimistic.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Victoria will spend 10 per cent of its public revenue servicing interest repayments by 2030, a major 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