Net Budget of $328.15 Billion Presented by Government


The Government has presented a net budget of $328.15 billion for Financial Year 2004/05, to cover its Recurrent (house-keeping) and Capital (development) expenses.
This sum is based on projections in the 2004/05 Estimates of Expenditure, which were tabled in the House of Representatives today (March 31) by Minister of Finance and Planning, Dr. Omar Davies.
Broken down, the figures reveal that the Government expects to spend just over $187.55 billion on the recurrent side of the Budget and a little above $140.60 billion on the capital side.
Last year the net budget was projected at $261.41 billion. However, when the First Supplementary Estimates was tabled in the House on March 2 this year by the Finance Minister, a revised figure of $279.2 billion was presented.
For this year, the Ministry of Finance and Planning again gets the largest amount in the allocations with $110.81 billion for recurrent expenses and $133.15 billion for capital expenditure. Much of the amount will go towards repaying Jamaica’s debt obligations.
The Ministry of Education, Youth and Culture receives the second largest amount with $29.56 billion for recurrent expenses and $653.60 million for capital spending.
The Ministry of National Security gets $14.98 billion for recurrent expenditure and $210 million for capital, while the Ministry of Health receives $15.03 billion for recurrent expenses and $587.30 million for capital projects.
For the Ministry of Justice, $1.83 billion has been allocated for recurrent and $116.20 million for capital; and the Ministry of Local Government, Community Development and Sport, $4.31 billion for recurrent and $460.00 million for capital expenses.
Allocations to other Ministries are: Land and the Environment, $1.13 billion recurrent, $322.15 million capital; Industry and Tourism $1.85 billion recurrent, $87.50 million capital; Transport and Works, $1.69 billion recurrent, $2.34 billion capital; Foreign Affairs and Foreign Trade, $1.22 billion recurrent; Labour and Social Security, $1.11 billion recurrent, $1.10 billion capital.
The Ministry of Agriculture has received $1.35 billion for recurrent expenditure and $362.70 million on the capital side; Ministry of Commerce, Science and Technology, $1.84 billion recurrent and $110.00 million capital; and the Ministry of Water and Housing, $562.31 million recurrent and $632.40 million capital.
For the Office of the Prime Minister, $588.16 million has been allocated for recurrent expenses and $14.00 million for capital; Office of the Cabinet, $558.62 million for recurrent and $455.10 for capital; Houses of Parliament, $362.63 million recurrent; Auditor General, $157.50 million recurrent; Office of the Services Commissions, $86.70 million recurrent; the Governor-General and Staff, $50.01 million recurrent; Office of the Public Defender, $35.78 million recurrent; and Office of the Contractor General, $72.54 million recurrent.
The Standing Finance Committee of the House will consider the Estimates of Expenditure from April 6 to 8, and Dr. Davies will open the Budget Debate on Thursday, April 15 at 2:00 p.m.

JIS Social