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Investor Presentaiton

Stronger Budget Performance has Eased Fiscal Pressures Fiscal position has continued to improve Tax ratio increases in line with stronger recovery (% GDP) 10.8 10.4 10.2 10.4 9.9 9.8 10.0 10.1 9.1 8.3 2015 2016 2017 2018 2019 2020 2021 2022 Outlook Primary Balance is trending up (% GDP) 2023 2024* 2015 Overall budget position improved significantly (% GDP) 2016 2017 -2.6 -2.5 -2.5 2018 2019 -2.2 2020 2021 2022 ? 2023 Outlook -4.6 2024* -2.3-2.3 2015 2016 2017 2018 2019 -0.5 -0.1 -1.2 -1.0 -0.9 2020 2021 Source: Ministry of Finance Note: *2024 Proposed Budget 2022 2023 Outlook 2024* -6.1 Fiscal pressures has eased (% of GDP) 40.7 39.4 39.6 37.8 29.4 30.1 30.2 -0.40.2 -0.1 -2.5 2017 2018 2019 2020 2021 2022 2023 Outlook -4.1 60 60
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