Finance Minister Outlines Funding for 2025/26 Budget

Minister of Finance and the Public Service, Hon. Fayval Williams, on Tuesday (March 11), outlined how the $1.26-trillion Budget for the 2025/26 fiscal year will be funded.

Opening the 2025/26 Budget Debate in the House of Representatives, Mrs. Williams said the budget will be funded with $949.5 billion of tax revenues; $139.8 billion of non-tax revenues; $812 million of bauxite levy; and $5.96 billion of grants.

“In terms of the debt payment, we have $162.7 billion of debt that comes due in fiscal year 2025/26; we forecast loan receipts of $158.4 billion and we expect to pay the difference from our own resources,” she informed.

The Finance Minister further informed that for the upcoming fiscal year, the Government is projecting a budget surplus.

Total recurrent expenditures for Central Government for fiscal year ending March 31, 2026, which includes wages and salaries for the various ministries, departments and agencies (MDAs), is $1.197 trillion.

In addition, capital spending is $62.6 billion. up 1.5 per cent from the revised estimate of $61.7 billion for 2024/25.

Mrs. Williams said that while debt amortisation was $317.3 billion in 2024/25, it is only going to be $162.7 billion in the upcoming fiscal year.