Victoria has run up a $10 billion (US$7.2 billion) deficit in the first six months of the 2021/22 financial year, although the Australian state witnessed a rise in economic activities after it relaxed COVID-19 restrictions. According to the mid-year financial report (pdf) released by the Department of Treasury and Finance of Victoria on March 11, the deficit mainly resulted from the impacts of the COVID-19 Delta variant and the lockdown of Melbourne lasting for 77 days in 2021. There was almost no difference between Victoria’s latest mid-year financial result and the $10.1 billion deficit the state reported in the first six months of 2020/21. However, the economic consequence suffered by the state in late 2021 was not as severe as when it shut down Melbourne for 112 days in 2020. “While necessary restrictions associated with the Delta variant of COVID-19 led to a decline in economic activity in the September quarter …