Dr. Phillips Tables Revised Estimates of Expenditure

Story Highlights

  • The first Supplementary Estimates for the 2015/16 financial year was tabled in the House of Representatives on January 19 by Minister of Finance and Planning, Dr. the Hon. Peter Phillips.
  • An additional $4 billion has been made available to the Government, due to the lowering of the primary surplus target by the International Monetary Fund (IMF).
  • Members of the Public Administration and Appropriations Committee (PAAC) will deliberate on the Supplementary Estimates on Thursday, January 21.

The first Supplementary Estimates for the 2015/16 financial year was tabled in the House of Representatives on January 19 by Minister of Finance and Planning, Dr. the Hon. Peter Phillips.

It reveals that the Budget has been revised upwards from $641.56 billion to $808.42 billion.

The increase in the Budget shows that some $165 billion has been allocated for the PetroCaribe Debt, and approximately $3 billion has been set aside for the public sector wage bill.

An additional $4 billion has been made available to the Government, due to the lowering of the primary surplus target by the International Monetary Fund (IMF).

The Estimates show an increase in Capital budget from $208.98 billion to $378.51 billion. The recurrent expenditure, however, showed a decrease in allocation from $432.57 billion to $429.90 billion.

The 2015/16 Estimates of Expenditure was approved in March 2015, with $432.57 billion allocated for Recurrent (Housekeeping) expenses and $208.98 billion for Capital (Development) spending.

Members of the Public Administration and Appropriations Committee (PAAC) will deliberate on the Supplementary Estimates on Thursday, January 21.

It will then be debated in the House of Representatives for its approval on Tuesday, January 26.

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