Dominica Records Large National Debt of Over $700,000,000
The National debt refers to the total amount of money that a country’s Government has borrowed, by various means.
Mr. Christian says loans to statutory companies, which are guarantees by Government, stands over $100,000.00.
This represents 68% of the country’s Gross Domestic Product (GDP).
The GDP is one of the primary indicators used to gauge the health of a country’s economy, and it represents the total dollar value of all goods and services produced over a specific time period.
He also indicated that, a domestic contingent liability, which forms part of the National Debt, is $117, 755, 903.00.