South Australia’s Debt to Surpass $53 Billion by 2030 as Hiring Freeze Announced South Australia’s net debt is projected to reach $53.7 billion by 2030, according to the Labor Party’s budget. This increase is attributed to necessary borrowing for infrastructure projects like the Women’s and Children’s hospital and the North-South Corridor. To manage rising interest costs, the government has implemented a partial hiring freeze on the public service.

• South Australian net debt is projected to reach $53.7 billion by 2030.
• Net debt is expected to be $34.7 billion in 2025-26, rising to $40.3 billion the following year.
• Increased borrowing is intended to fund infrastructure projects, including the Women’s and Children’s hospital and the North-South Corridor.
• A partial hiring freeze on the public service has been announced to manage rising interest costs.
• The budget aims to fund investment in productive infrastructure by increasing net debt and the net debt to revenue ratio.