VICTORIA is expected to be $225 million in the black next financial year, as the treasurer prepares to deliver a budget to build for the state's growth.
Breaking with the tradition of keeping the headline budget figure under wraps until his address to parliament, Treasurer Michael O'Brien told AAP a $225 million surplus was forecast for 2013/14 using a revised Australian accounting standard for the reporting of superannuation obligations.
If you strip out that accounting change, the prediction is $817 million, slightly down on the $835 million forecast in the December budget update.
Mr O'Brien said the surplus was a strong result in difficult economic times.
"This budget is one which builds for growth in Victoria," he said.
"It's a budget which delivers a growing economy, growing employment, growing surpluses and major new infrastructure.
"We have seen governments around the country plunge into debt and deficit and Victoria has avoided that path."
The state's budget surpluses over the next four years are forecast to grow to $2.5 billion by 2016/17.
The government has made a flurry of pre-budget announcements in recent weeks, including $238 million to train more doctors and nurses, $224 million for disability support, $170 million in extra road maintenance funding over three years and a $100 million boost for the southeastern Frankston train line.
Mr O'Brien said the budget indicated the government would reduce its net debt over the next four years.
"We are very comfortable that we have a manageable and a prudent level of debt, and one of the reasons you strengthen your surpluses is so you can afford to pay for infrastructure out of surpluses rather than out of increased borrowings," he said.
He said both the East West road link and the Melbourne Metro rail tunnel would be progressed in the budget.
Mr O'Brien said Victorian sourced revenue had held up fairly well and was tracking as forecast.
"Some is up, some is down, but the differences tend to balance each other out," he said.
"Our major revenue concern has been from GST."
He said there was $240 million in GST writedowns in 2013/14 that the government was not expecting.
Mr O'Brien said while the voluntary redundancy program for Victorian public servants would not be extended, the government was determined to drive efficiencies in the public sector.
Shadow treasurer Tim Pallas said the coalition owed it to Victorians not to increase basic daily expenses.
"The most important thing they can do is not increase the cost of living for Victorians," he said.
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