2015-2016 fiscal year, the island’s debt stood at $1.1 billion

Prime Minister Roosevelt Skerrit has revealed that at the end of the 2015-2016 fiscal year, the island’s debt stood at $1.1 billion.

He made that statement while presenting the 2015/2016 National Budget in Parliament on Tuesday.

“At the end of fiscal year 2015/16, total public debt stood at $1.1-billion, consisting of external debt of $776.4 million and domestic debt of $278.9 million,” he said.

The Prime Minister also revealed that central government debt accounted for $883.8-million of which $654.8-million is external debt and $229.0 million is domestic debt.

According to him, government guaranteed debt was $171.5 million which represents approximately 16.3 percent of the total debt portfolio.