webnexttech | ‘No reason to panic yet’ on 91% deficit

‘No reason to panic yet’ on 91% deficit

Top finance official says VAT up 16- 17% in December • Expects first half to ‘translate into strong peak revenue’ • Gov’ts $500m loan ‘cannot refinance’ pre-existing debt By NEIL HARTNELL Tribune Business Editor [email protected] THE Government’s top finance official yesterday assured he has “no reason to panic yet” over the early 2023-2024 fiscal deficit as VAT revenues for December exceeded the prior year by 16-17 percent.