2019/2020 National Budget: Fiji’s expenditure projected at $3.8bn
7 June, 2019, 9:19 pm
FIJI’S Government expenditure for the 2019-2020 fiscal year has been projected at $3.84billion, says Attorney General and Economy Minister Aiyaz Sayed-Khaiyum.
While delivering the 2019-2020 national budget in Parliament this hour, he said this was a lowered deficit of 2.7 per cent of GDP – down from 4.4 per cent in 2017-2018 and 3.4 per cent in 2018-2019.
“With a GDP of $12.7billion and a debt of $5.98billion, our debt to GDP is projected at 47.1 per cent of GDP, meaning our debt to GDP ratio is 6 percentage points lower than 2017,” Mr Sayed-Khaiyum said.
“As of this month, our foreign reserve levels are around $1.92billion – equal to 4.2months of coverage for retaining imports of goods and non-factor services.”
The AG also said inflation stood at around 2.1 per cent.
* Stay with us as we bring you brief updates from the 2019/2020 National Budget. More detailed reports will be published in tomorrow’s edition of The Fiji Times and also in our e-Edition