Publication

Date.

8 Mar 2022

Author.

Robin Sherbourne

Series.

Democracy Report

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2022-23: National Budget Review

Slow But Steady Wins The Race

With the economy only slowly starting to recover from the effects of the COVID-19 pandemic, the 2022-23 national budget was a mostly modest affair. Revenue was once again limited. With public debt still threatening to spiral out of control, the minister sought to limit the size of the deficit by imposing restraints on spending. Despite his efforts, there is still a significant budget deficit and debt is still growing, albeit slowly.