Imbert: Government will need to borrow $billions to finance deficit budget

Imbert: Government will need to borrow $billions to finance deficit budget

Speaking at a news briefing on Thursday, Finance Minister Colm Imbert said the ruling administration will have to borrow $2 billion every quarter to finance its estimated budget deficit which is in the vicinity of over eight billion dollars.

Imbert also dismissed allegations by the Opposition Leader that the National Security Minister benefited from loan arrangements between NCB Global Finance and the state.

He provided details about the government’s debt profiles with commercial banks.

 

*Courtesy Power 102FM

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