GAO reports significant increase in Guam debt, governor addresses components

 

WASHINGTON, D.C. — Between fiscal 2005 and 2015, Guam’s public debt more than doubled from almost $1 billion to $2.5 billion, with a debt to gross domestic product ratio of 44% for fiscal 2015, according to the U.S. Government Accountability Office’s report to Congressional Committees on the U.S. Public Debt Outlook.

                 Most of Guam’s debt was used to comply with federal requirements and court orders, it said. Revenue grew during the period, and net position fluctuated significantly . . .

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