DPBR 654 AB
WORK IN PROGRESS
Public Secretary's Summary -
The National Budget
Public Secretary's Summary - Well Minister, here we are again. Debt to GDP will be over 100% at the end of this year. Tax incomes remain at basically rock-bottom, and taxes on employment have caused a crisis in business confidence. While the previous government has seen the deficit shrink, we are still barrelling towards total financial collapse. As I reported in the last report, we are between 5 and 7 years to the total failure of our financial system. If we cannot control debt this term, government obligations will crowd out all private capital and our Florin will no longer have any value even in Kodiak. I urge you, for the sake of the nation, please balance the budget. If we cannot keep Debt to GPD below 200%, there will be next to no way to ever pay it off. I expect our interest payments to skyrocket if our credit rating goes below A.
The National Debt
The National Debt stands at approximately ₣ 746.45 Billion with a Debt/GDP ratio of 93%.
Our predicted Deficit this year stands at approximately ₣ 68.36 Billion.
This will increase the National Debt to approximately ₣ 811.81 billion.
Our Sovereign Credit rating has been assessed by the World Bank as A.
Interest on the debt assessed at 1.91% and is expected to cost ₣ 14.28 Billion which represents 7.5% of annual expenditure.
|Income Stream||Amount (in millions)||Diff. 651 AB|
|Capital Gains Tax||5,840||+80|
|State Energy Co||5,160||+15,368|
|Land Value Tax||5,040||+40|
|State Telecom Co||1,960||+1,960|
|State Water Co||1,008||+3,156|
|Diverted Profits Tax||956||+956|
|Empty Homes Tax||952||-76|
|State Postal Service||476||+476|
*Traceable tobacco usage appears to have bottomed out.
|Expenditure||Amount (in millions)||Diff. 651 AB|
|Rural Dev Grants||4,560||-40|
|State Health Services||3,784||-12|
|Int'l Investment Credits||2,404||+2,404|
|All Other Expenses||22,140||+12,196|