Limits on Public Debt

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Limits on Public Debt

Section 113 (2)

In the past, there was no constitutional limit on the amount of money that Government might borrow, although there were rules directing government spending in the Public Management and Finance Law (PMFL). Now under the new Constitution, Government borrowing is limited to a certain percentage of government revenue. However flexibility is given in urgent or extremely important matters.

Last Updated: 2010-08-17