Friday, October 30, 2020

'Within The Ball Park': Gov't Debt Near $9bn

Deputy Prime Minister Peter Turnquest

Tribune Business Editor

The Government's first quarter fiscal outturn was "within the ball park" of projections, the deputy prime minister said last night, as $692m in net borrowing drove its direct debt to almost $8.9bn.

K Peter Turnquest told Tribune Business its financial performance for the three months to end-September had not deviated too far from the May Budget forecasts, although he conceded that revenue was "a little behind" and spending "a little ahead" of those predictions.

While he lacked access to the actual figures due to being in 14-day quarantine, Mr. Turnquest said the Ministry of Finance was "very carefully" managing a government debt portfolio that will have been increased by a further $352m following the quarter's end due to the net proceeds from the recent $600m foreign currency bond issue.  Read more >>