2019/2020 National Budget: Debt stock to hit close to $6bn
8 June, 2019, 1:35 am
FIJI’s debt stock will hit close to $6billion by July next year.
This according to the Economic and Fiscal Update supplement to the 2019-2020 Budget Address.
While delivering the 2019-2020 national budget in Parliament tonight, Fiji’s Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum said the budget total for 2019-2020 is $3.491billion.
He said a net deficit of $349.2 million or 2.7 per cent of GDP has been budgeted for 2019-2020.
The net deficit was drawn from a budgeted total revenue of $3,491.7million and total expenditure of $3,840.9million.
Given the level of net deficit, Government’s debt stock is estimated to be around $5,978.6million or 47.1 per cent of GDP at the end of July 2020.
* More detailed reports will be published in today’s edition of The Fiji Times and also in our e-Edition