Sunday, October 22, 2017

IMF: T&T debt to grow in 2018 *


THE International Monetary Fund (IMF) is projecting Trinidad and Tobago taxpayers will have to bear a public sector gross debt burden of 75.7 per cent of gross domestic product (GDP) in 2018, up from 41.7 per cent in 2014, and 49.5 per cent in 2015.

In 2016, T&T's public sector gross debt leapfrogged to 61 per cent of GDP, according to the IMF, and is projected to rise again to 65.8 per cent in 2017, as Government continues to borrow to spend beyond its means.

On May 10, the Express reported that T&T spends more than $4 billion annually servicing debt.

 

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