‘Govt improve on financial management’

THE government has become more disciplined in financial management despite a recent decline in its international credit rating, says Deputy Prime Minister and Treasurer Charles Abel.
He was responding to questions from a National Superannuation Fund employer during a conference yesterday on how a member’s savings could be affected by investments in treasury bills.
Global credit rating agency Moody’s Investors Service recently changed its outlook on the Government’s rating from B2 stable to a negative B2.
“It is disappointing when institutions are so quick to pass judgment. Through the 2017 supplementary budget and of course the 2018 budget we have undertaken some significant steps in terms of maintaining discipline,” Abel said.
“We have taken significant steps in acknowledging the situation and reacting to it. And it does not mean that some of the problems will be fixed overnight particularly with a low priced petroleum regime.”
He said the government was considering a range of financing options and despite the rushed rating, the outlook for the country was positive.