We are fortunate that pre-COVID 19, we took measures to strengthen our public finances and to build our international reserve buffers. As we grapple with the crisis, our earlier success has catalysed additional resources from the international financial institutions. Our reserves now exceed $ billion, continuing to rise despite the impact of the crisis on foreign exchange earnings.
We have relaxed our targeted primary surplus for FY 2020/21 to accommodate expected lower revenues and the need for unplanned expenditures on health and the social safety net. In addition, the successful completion of our debt restructuring has created room to enable Government to expand its capital works programme in an effort to generate opportunities for some of the displaced workers.