2018/19 Budget Increased by $17.4 Billion

Photo: Rudranath Fraser Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, addresses members of the House of Representatives on Tuesday (September 25), while tabling the first Supplementary Estimates for the 2018/19 financial year.

Story Highlights

  • The Government is proposing to spend an additional $17.42 billion for this fiscal year.
  • This is outlined in the first Supplementary Estimates for the 2018/19 financial year, which was tabled by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, in the House of Representatives on Tuesday (September 25).
  • The Estimates shows that the budget has been increased from $773.68 billion to $791.11 billion.

The Government is proposing to spend an additional $17.42 billion for this fiscal year.

This is outlined in the first Supplementary Estimates for the 2018/19 financial year, which was tabled by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, in the House of Representatives on Tuesday (September 25).

The Estimates shows that the budget has been increased from $773.68 billion to $791.11 billion.

Recurrent (housekeeping) expenses have moved from $560.04 billion to $572.46 billion, for an additional expenditure of $12.4 billion.

In terms of capital (development) spending, this is proposed to be increased by $5 billion, moving from $213.64 billion to $218.64 billion.

Of the increase, $7.3 billion will go towards the Major Infrastructure Development Programme (MIDP). The additional funds are required due to faster-than-programmed project execution.

Another $7 billion has been set aside for a grant to local authorities to deal with the payment of arrears and current charges for street lighting.

Further, $445 million will go towards enhanced security measures to support the States of Public Emergency and Zones of Special Operations; to support the establishment of the Public Safety and Traffic Enforcement Branch (PSTEB); and to improve 60 priority police locations islandwide.

In addition, $527.66 million will be spent on the reverification of voters. This exercise will involve the phased removal of deceased persons from the voters’ list.

Members of the Public Administration and Appropriations Committee (PAAC) and the Standing Finance Committee of Parliament are to deliberate on the Supplementary Estimates next week, following which it will be debated in the House of Representatives for its approval.

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