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Treasury Releases Fiscal Year 2023 Debt Report

April 23, 2024 |

Credit: Image by Alan Cleaver from Pixabay

New Jersey’s bonded debt is at its lowest level in a decade, according to the Fiscal Year 2023 Debt Report, released this week by the Department of the Treasury. The report, which outlines the State’s outstanding debt obligations, showed that overall state debt declined $38.1 billion since 2018, from $239 billion to $200.9 billion in 2023. Bonded debt was reduced to $41.5 billion in 2023, marking a five percent reduction year-over-year and reaching the lowest level in ten years.

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NJ SEED: The Murphy Administration continues to do a good job of reducing the state’s debt.

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