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ASG debt $162.2 million as of Sept, 2021

As of September 30, 2021, American Samoa's total debt outstanding was $162.2 million, or about 23 percent of GDP of $710.8 million, reflecting recent borrowing to invest in its infrastructure.

This is outlined in the latest analysis by the U.S. Government Accountability Office (GAO), included in its US Territories Public Debt Outlook — 2023 Update, released yesterday to the US Congress.

On revenues and expenses, for the fiscal year 2021 audited financial statements, American Samoa’s primary government had an almost $6 million deficit.

In fiscal years 2019 and 2020, the government reported a surplus of $2 million and $6.9 million, respectively. In 2021, government revenue was approximately $400.9 million, an increase of 26 per cent from fiscal year 2019, and expenses were about $406.9 million, a 29 per cent increase from fiscal year 2019.

In 2021, ASG reported spending almost $116.9 million on education and culture of all direct government spending, followed by $107.5 million for health and welfare activities and $102.8 million for general government activities.

American Samoa’s component units recorded total revenues of more than $196.7 million and total expenses of almost $181.2 million in fiscal year 2021, resulting in a surplus of about $15.5 million. We will report on other aspects of the GAO report in upcoming news bulletins.

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