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Banking & Finance

Financial Secretary says our financial debt is stable

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While the supplementary budgets are only a percentage of the country’s finances, there is the question as to what the status of the country’s economy is.  Financial Secretary didn’t go into much detail, only to say that there is the need for more investments.

While the supplementary budgets are only a percentage of the country’s finances, there is the question as to what the status of the country’s economy is.  Financial Secretary didn’t go into much detail, only to say that there is the need for more investments.

Joseph Waight, Financial Secretary: “The economy of course we would like to see more growth, that is we realize the drought has set us back, that will have a revenue impact. We’re still trying to maintain within budget trying to generate the surpluses that we need to pay down our debt. The debt is stable, it’s still at around 90-92% of GDP. We’re borrowing only on concessional basis and we’re trying to fashion spending of the budget to remain within these – to generate enough surplus so that we can pay down our debt.”

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