Sixteen of Victoria's 22 new local COVID-19 cases were isolating throughout their infectious period.
Health Minister Martin Foley says the remaining six cases do not have many exposure sites and pose a "reasonably low" risk to the community.
"That should give us confidence that this is a process that is working, and it is working because millions of Victorians (are) ... doing the right thing," he told reporters on Wednesday, the sixth day of the state's extended lockdown.
All new infections are linked to the current outbreak, which originated in NSW and totals 107 cases.
Five people are in hospital and one is in intensive care.
Chief Health Officer Brett Sutton said the spike in new infections may look concerning but the fact so many people were self-isolating was a "really good sign" the state was getting ahead of the outbreak.
"That's changed dramatically in the last couple of days. I expect it to be improving over time," he said.
"It may even be that within a couple of days, we don't see anyone who has been out in the community for any of their infectious period".
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The Victorian government will offer an additional $282.5 million in grants to help 90,000 businesses hit hard by the extended lockdown.
Licensed Hospitality Venue Fund grants will be increased from $3000 to $7200, while the state's Business Costs Assistance Program increases from $2000 to $4800.
Businesses and sole traders that received support during the fourth lockdown last month will automatically receive the funds to their chosen bank account.
Those who did apply last month, or who had been ineligible or has since become eligible, will be able to apply for a grant online.
Businesses in Victoria's alpine region, the public events industry and community sporting clubs are also eligible for additional grants.
See the exposure sites here.
Industry Recovery and Support Minister Martin Pakula said the Victorian government has provided almost $7 billion in economic support for businesses throughout the pandemic.
"Both the health minister and I are profoundly hopeful that we don't have to go through this again, but we recognise that this is a very dynamic environment," he said.
The federal and state governments are jointly funding income support for Victorians who have lost work or income due to the lockdown, the state's fifth.
A new case was also recorded in hotel quarantine, bringing the total number of active cases in the state to 118.
A record 59,355 tests were processed in the 24 hours to Wednesday morning, while 18,099 Victorians received a vaccine dose at one of the state-run hubs.
Four new tier-two exposure sites were added overnight in Richmond, bringing the total number of sites to more than 350, while more than 18,000 primary close contacts, including two apartment blocks, are self-isolating.
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