Finance Minister Fayval Williams says government will manage the country’s debt to GDP

Finance Minister Fayval Williams has assured that the government will be able to manage the country’s debt to gross domestic product (GDP).

Speaking in Parliament yesterday, as she tabled the third supplementary estimates, Mrs. Williams acknowledged concerns about funding support from international partners and how this will affect debt.

The international partners provided about US$6.7 billion to aid Jamaica in its hurricane Melissa recovery and resilience process.

Mrs. Williams noted that the real GDP is projected to decline by 4.3%.

She said the debt to GDP is expected to increase to 68%. 

The minister pointed out that the debt to GDP ratio will settle at 64% by 2030.   

Mrs. Williams said the arrangement for the loan support from the international partners allows for the debt to be managed.