Current economic developments

Victoria has all the ingredients for a strong economic recovery

The global pandemic shocked economies right around the world – and Victoria is no exception.

Throughout the pandemic the Victorian Government has prioritised the public health response, while putting measures in place for economic recovery.

Health response

The Victorian Government has a dedicated COVID-19 website

Here you can find out everything you need to know about COVID-19 developments in Victoria.

Find out more about:

Our high vaccination rates provide safety and confidence

Victoria is set to have one of the highest vaccination rates in the world, predicted to reach around 95 per cent of the population (12+ years).

This ensures a reduced health risk for Victorians and those visiting Victoria and provides confidence that there will be less disruption to businesses in the future.

Compared to other jurisdictions across the world, Victoria has experienced relatively low numbers of COVID-19 cases and deaths.

The state’s high vaccination rates and continued public health measures are intended to manage the ongoing health risks associated with COVID-19 and ensure that business and everyday activities can continue.

Economic response

Business grants and support

The Victorian Government has provided more than $11 billion in direct economic support to business since the start of the pandemic, including $5.7 billion in payments made to more than 157,000 businesses since the May/June lockdown.

This support has helped the worst-affected businesses pay their bills and plan for a strong recovery.

To find out more about support available to businesses in Victoria, visit business.vic.gov.au

Adapting our economy for the future

As we build our economic recovery, we’re taking the chance to embed wholescale, ground-up change that takes us all into the future.

We’re investing in those sectors where Victoria leads not just the nation but the world: infrastructure, life sciences, education and skills, advanced manufacturing, supported by game-changing initiatives, like the $2 billion Breakthrough Victoria fund.

We’ll build an economy designed for the future rather than the past, where we can tackle modern rather than outdated challenges.