Government Optimistic On Economic Future
Posted Thu, Nov 19th 2009, 18:35(Grand Cayman - CITN) -
Government is confident its books will be firmly in the black for the next 3-years. The Premier has set out government's predictions for income and expenses until 2013.
Income is forecast to steadily increase from $580 million next year to $590 million in 2013. Expenses should be at $531 million next year, dropping to around $522 million for the following two years.
That leaves government with cash in the bank, $23 million next year, increasing to $41 million by 2013.
If all goes well, it will cut the need to borrow more than $500 million next year to $470 million.
The Premier says the targets will not be easy to achieve, and will require the civil service to exercise strict financial management.
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