2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 16

Ø achieving and maintaining a sustainable fiscal
balance;
Ø achieving and maintaining prudent levels of public
debt; and
Ø prudently managing fiscal risks.
The specific fiscal objectives that have been
established to operationalize the core fiscal responsibility
principles are set out in the first Schedule of the Bill,
namely:
Ø the long term debt objective is to reduce debt to no
more than 50 per cent of GDP;
Ø the fiscal balance is to be reduced to no more than 0.5
per cent of GDP from FY 2020/21 onwards;
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