The Budget overview summarises the state’s economic and fiscal outlook, and the Victorian Government’s strategic priorities and objectives. The Strategy and outlook paper outlines the state's current and expected economic and financial performance and outlines the Government's fiscal and economic strategy. The Budget is focused on making life easier, safer and more affordable.

Large portions of spending by national governments can be considered mandatory. Drawing on practices from eight OECD countries, this paper examines how governments define, monitor and review mandatory spending. The analysis suggests that mandatory spending should be reviewed regularly, included in fiscal rules and budget processes, and be subject to clear accountabilities to parliament.

Australia’s consolidated government accounts bring together federal, state and local governments spending and revenue statistics. This gives the most complete picture of the nation’s fiscal position. The spending trends outlined in this report highlight that Australia’s fiscal system is inconsistent and inflexible. The analysis points to six potential issues in current policy setting processes.

Government spending decisions are biased towards the short term, contributing to rising government debt levels. This report recommends the adoption of Treasurers' Fiscal Statements to enable governments to engage better with citizens on medium-term pressures and trade-offs in government spending.

Under the International Monetary Fund (IMF’s) Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. The IMF concluded the Article IV consultation with Australia on February 9, 2026. It finds the Australian economy is managing a soft landing and economic recovery is expected to continue in the near-term.