Gov’t Increases Budget by $22 Billion

The Government expects to spend $22 billion more for the 2007/08 fiscal year.
As contained in the first supplementary estimates, which were tabled in the House of Representatives on (Nov. 27) by Minister of Finance and Public Service, Audley Shaw, estimates of spending for the fiscal year has increased from $380.3 billion to $402.5 billion.
Recurring or housekeeping expenditure will increase from $239.2 billion to $252.7 billion, while capital expenditure has increased from $141 billion to $149.7 billion.
In the meantime, Mr. Shaw said that the Standing Finance Committee of Parliament will meet on Tuesday (Dec. 11) to examine the estimates before taking it to the House for approval.