$579.93 Billion Budget for 2016/17

The Government is projecting to spend $579.93 billion for the 2016/17 fiscal year.

This amount is 28 percent less than the $808 billion Revised budget for financial year 2015/16.

Details of the projections are contained in the Estimates of Expenditure, which were tabled in the House of Representatives on Thursday (April 14), by Minister of Finance and Public Service,  Hon. Audley Shaw.  The Revenue Estimates were also tabled.

Recurrent (housekeeping) expenses are earmarked at $459.37 billion, while capital (development) spending is $120.56 billion.

The Ministry of Finance and Public Service has been allocated the largest sum, with $205.36 billion for recurrent expenses and $84.64 billion for capital expenditure. A large portion of the sum will go towards meeting debt obligations.

The Ministry of Education, Youth and Information gets the second largest sum of $90. 50 billion for recurrent expenses and $2.6 billion for capital spending.

Ministry of National Security has received $55.67 billion for recurrent expenditure and $3.56 billion for capital, while the Ministry of Health gets $52.90 billion for recurrent expenses and $1.54 billion for capital projects.

For the Ministry of Justice, $5.96 billion has been allocated for recurrent and $899 million for capital; Office of the Prime Minister, $3.98 billion recurrent,  $2.10 billion capital; Ministry of  Energy, Science and Technology,  $4.70 billion recurrent, $988 million for capital; and the Ministry of Transport and Mining, $2.34 billion recurrent and $1.31 billion for capital.

Allocations to other Ministries are: Industry, Commerce, Agriculture and Fisheries, $5.34 billion recurrent, $3.59 billion for capital;  Economic Growth and Job Creation, $8.35 billion recurrent, $11.2 billion capital; Foreign Affairs and Foreign Trade, $3.93 billion recurrent;  Labour and Social Security, $2.54 billion recurrent, and $6.22 billion capital; Culture, Gender, Entertainment and Sport, $2.36 billion recurrent and $188 million capital; Tourism, $1.73 billion for recurrent, $17 million  capital; and Local Government and Community Development,  $10.49 billion  recurrent,  $880 million  capital.

The Office of the Cabinet has received $ 565 million for recurrent spending, and $733 million for capital expenditure.

The Auditor General has received $535 million recurrent; Office of the Services Commissions, $195 million recurrent; the Governor-General and Staff, $181  million recurrent; Office of the Public Defender, $91.7  million recurrent; Office of the Contractor General, $278 million recurrent;  Office of the Children’s  Advocate, $140  million recurrent; Houses of Parliament $827 million recurrent; and the Independent Commission of Investigations, $350 million for  recurrent expenditure.