Bridgetown.
Minister of Finance Chris Sinckler today introduced a resolution in the House of Assembly seeking an increase in the amount of Treasury Bills and Tax Certificates Government can issue.
The resolution asked the House of Assembly to raise the limit from $1.75 billion dollars to $2.75 billion.
This is the fourth time government has gone to the House seeking an increase in the amounts and Sinckler said the move was necessary “during this time of economic challenge.”
In 2008 the limit was raised to $1 billion dollars, in 2010 it went to $1.2 million and it was again increased to $1.75 billion in November of 2011.
Sinckler told the House that Government anticipated an overall deficit this year in excess of $1.3 billion and would have to source $844.5 million from the domestic market and $373.3 million from foreign sources.
The resolution was passed.
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