Fiji Time: 7:35 PM on Tuesday 6 October

Fiji Times Logo

/ Front page / News

Public must query public debt, finance

Nasik Swami
Tuesday, April 22, 2014

IT is important for Fijians to know what public debt is and what it means to the ordinary citizen, says independent candidate and 'Be the Change Campaign' leader Roshika Deo.

Ms Deo explained that public debt was the total amount of money that a government owed and usually an indication of how much money it's borrowing to spend on public expenditure and finance.

"We should ensure that the amount of money and the rate of borrowing are sustainable and we are able to service the public debt.

"When we start incurring public debt to finance public consumption that only benefits the current generation, the public debt becomes unsustainable," Ms Deo said yesterday.

She said members of the public should be aware of the national debt per capita because when this increased, the likelihood of the government defaulting on its debt meant service obligation increased as well.

"The amount of tax revenue available to spend on other governmental services is reduced because more tax revenue will be used to pay interest on the public debt.

"This will result in people having a lower standard of living.

"It can also force people to pay more for goods and services, resulting in inflation.

"When the risk increases of our country defaulting on its public debt service obligation, our country potentially risks our social, economic and political power," she added.

Ms Deo said as taxpayers, people should be asking and receiving information on how much the public debt of the country actually was, what the borrowed money was being used for, the terms and conditions of this debt, and most importantly how it would be serviced.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.61410.5951
JPY 57.033254.0332
GBP 0.30900.3010
EUR 0.41900.4070
NZD 0.72780.6948
AUD 0.66430.6393
USD 0.47080.4538



Exchange Rate updated on 6th October 2015

Today's Most Read Stories

  1. Fisherman has whale of a day
  2. The murders and tragedies of Vatuwaqa
  3. Sex offenders top list, taxpayers foot $15,660 per day
  4. Cyclone shift
  5. Royal haunting or bang on the head? Welsh see ghosts in Surrey
  6. Fiji coach favourite to lead Sunwolves
  7. Naholo under injury cloud
  8. New taxi permits order stays
  9. Clan land for projects
  10. Onus on the State

Top Stories this Week

  1. Rugby outcry Monday (05 Oct)
  2. Tired Wales march on after holding off feisty Fiji Friday (02 Oct)
  3. RWC 2015 ball hunters Wednesday (30 Sep)
  4. 13 seek refuge in Fiji Wednesday (30 Sep)
  5. Fisherman has whale of a day Tuesday (06 Oct)
  6. Man faces further charges of rape, indecent assault Friday (02 Oct)
  7. English tutors in demand Wednesday (30 Sep)
  8. Botia up for Wales clash Thursday (01 Oct)
  9. Family robbed, fear for lives Monday (05 Oct)
  10. Escapee on the run Thursday (01 Oct)