Gov’t deficit at $73.1M

The
Cayman Islands financial position has not
improved in the first six months of the current budget year.

According
to figures presented by Premier McKeeva Bush in response to a parliamentary question
posed Thursday morning in the Legislative Assembly, the total operating deficit
in Cayman’s public sector had reached more than $73 million between 1 July,
2009 and 31 December, 2009 – the first half of the fiscal year.

Total
government revenues were $179.7 million during those six months, while expenses
totaled $233.7 million.

Financing
expenses during the period totaled $11.8 million and extraordinary expenses
were $3.7 million, according to Premier Bush.

In
addition, the operating losses of statutory authorities and government
companies reached $3.4 million in the first six months of the year.

“The
country is in a precarious situation,” Mr. Bush told Legislative Assembly
members Thursday.

Please see the full story in
Friday’s Caymanian Compass…

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