PM says Government will use money and borrowed funds to finance deficit budget

PM says Government will use money and borrowed funds to finance deficit budget

In an interview on i95.5FM this morning, Prime Minister Dr. Keith Rowley said the Government will use a pool of money in addition to borrowed funds to cover the proposed expenditure in this year’s budget.

Finance Minister Colm Imbert announced a $53.036 billion deficit budget for fiscal 2019-2020 a few Mondays ago in Parliament, with Government planning to spend more than it earned. Dr. Rowley said that the revenue will be taken from taxes and other options.

Dr. Rowley said that revenue comes in spurts and as a result, the Government needs to manage its spending in order to ensure that, for example, public servants are paid or hospitals are equipped with new supplies.

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