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Government incurred additional debt in 2022 says Finance Minister

The content originally appeared on: NBC SVG

Minister of Finance, Camillo Gonsalves has said that the Government incurred additional debt, to cushion the impact of the COVID-19 Pandemic, volcanic eruptions and hurricanes

Presenting the National Budget in Parliament on Monday, the Minister said as at September 30th 2022, the total public debt amounted to just under 2.2 billion dollars, representing a 4.1 percent increase over the public debt for the comparative period in 2021.

He said despite this increase, the debt however remains highly concessional and the debt service remains manageable.

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He said Budget 2023 continues the path of prudent, disciplined investment in projects that yield developmental benefits.