2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 113

On the basis of these planning assumptions, the GFS
Deficit in 2019/20 is projected at $85 million, or 0.6 per cent
of GDP. In 2020/21, a GFS surplus of some $10 million is
forecast. As such, we will readily achieve the deficit targets
for those two years.
In addition, the debt-to-GDP ratio will decline
steadily over the forecast period, to stand at 52.1 per cent at
the end of 2020/21.
VIII. CONCLUDING REMARKS
Mr. Speaker,
In conclusion, I want to reemphasize just how
significant an event the 2018/19 Budget is in the history of
fiscal management in this country. For far too long, our
citizens have had to live through, year after year, of blatant
fiscal mismanagement, inadequate budgeting, over-spending
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