We have to ensure that our
public sector deficit remains manageable," he added.
We may be risking a credit rating downgrade as a result of this unmanageable
public sector deficit,' Diokno said.
The OBR still expects the
public sector deficit to fall, but probably not fast enough to meet the government's target of a balanced budget by the middle of the next decade.
The SMP also recognizes that to provide the resources for increasing public investment and raising economic growth over the medium term, it is vital to bring an end to the large losses arising from the operations of the public electricity utility EDH, which in recent years have been responsible for approximately half of the
public sector deficit.
Closing this deficit is ultimately more important than dealing with the
public sector deficit.
There is little point in fiscal prudence without procurement reform if we are to reduce the
public sector deficit.
Martin Beck, senior economic adviser to the EY ITEM Club, said: "Today's figures mean that the
public sector deficit has now fallen in each month of 2015 with another month of strong growth in tax receipts boosting the UK's fiscal position.
That leaves public expenditure, said Mr Rowles, adding that Mr Osborne has acted to reduce the
public sector deficit less vigorously than originally proposed.
The government's fiscal targets for 2014 envisage a further decline in the overall
public sector deficit to 4.
The Cyprus government has had to endure harsh austerity measures after years of uncontrolled spending that sent the
public sector deficit spiralling to nearly twice the national output.
It is therefore important that the private savings improvement be maintained, and that the
public sector deficit continues to reduce.
Due to the restrictive policies of expenditure management, it is estimated that the
public sector deficit from 1.
