JIS News

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  • A total of $557.7 billion will be spent on Central Government operations for the fiscal year 2014/15.
  • The sum includes $17.7 billion to be funded from user fees/charges and grants.
  • Of the total budget, $233 billion or 42 per cent will go towards debt servicing and $324 billion or 58 per cent.

A total of $557.7 billion will be spent on Central Government operations for the fiscal year 2014/15.

Making the disclosure during the opening of the Budget Debate in the House of Representatives on April 17, Finance and Planning Minister, Dr. the Hon. Peter Phillips, said the sum includes $17.7 billion to be funded from user fees/charges and grants.

​He informed that of the total budget, $233 billion or 42 per cent will go towards debt servicing and $324 billion or 58 per cent, will go towards wages and salaries, capital projects and recurrent programmes.

A total of $161 billion has been provided to meet wages and salaries of public sector workers.

Additionally, provision has been made to honour all agreed settlements including a $4 billion payout for the final tranche of seven per cent wage settlement, due in May.

Also, $2.8 billion has been set aside for the second year of the one-off payment for public sector workers due in August, as well as a $2.3 billion allocation for the second phase of the Health Sector Reclassification.

​Dr. Phillips said the Ministry of Finance will continue discussions with those groups which still have outstanding matters not yet settled.