Minister for Economy, Aiyaz Sayed-Khaiyum confirms that the government now has a huge focus on offshore borrowings when asked by National Federation Party Leader, Professor Biman Prasad where will the government borrow from as government revenue may be lower than $2.5 billion.
Professor Prasad says no doubt the deficit will be higher as government revenue continues to drop.
Sayed-Khaiyum says the next National Budget will have the details however negotiations have started for offshore loans.
The Minister for Economy also says some countries have come forward to provide direct budget support. He says the Australians and Europeans have already done this while the New Zealanders are also planning to do the same.
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