However, there are signs of fiscal slippage in 2013. In the first - TopicsExpress

However, there are signs of fiscal slippage in 2013. In the first nine months of 2013 the fiscal deficit reached 2.3 percent of GDP up from 0.5 percent a year ago. This makes both the 0.5 percent of GDP surplus to which the government committed with the IMF and the balanced budget approved by the National Assembly for Fiscal Year (FY) 2013 all but unattainable. Financing of the fiscal deficit still relies on external sources with a growing role of domestic financing. The current account deficit remains high though slightly narrowing (from 12.6 percent of GDP in 2011 to about an expected 12 percent in 2012). Djibouti remains at a high risk of debt distress in spite of declining external debt (from 55.2 percent of GDP to 52 percent in 2013).

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