JIS News

The Government has reduced its 2005/06 budget by $877 million, reflecting an increase of $2.28 billion on the Recurrent side, and a $3.15 billion reduction in the Capital expenditure.
These figures are contained in the First Supplementary Estimates for the financial year, which were tabled in the House of Representatives yesterday (March 7), by Minister of Finance and Planning, Dr. Omar Davies.
The revised Estimates show that the total Recurrent and Capital expenditure has been reduced to $346.27 billion, down from the approved estimates of $347.15 billion.
The Recurrent expenditure now stands at $189.48 billion, while $156.79 billion has been allocated for capital expenditure.
According to the revised Estimates, among the Ministries that will receive increases in their recurrent spending are the Ministry of Local Government, Community Development and Sport that is now slated to receive $5.7 billion, up from the previously approved figure of $4.3 billion; the Ministry of Health is set to receive $12 billion, up from $11.5 billion; the Ministry of Commerce, Science and Technology, $768 million, up from $692 million; and the Ministry of Industry and Tourism, $2.3 billion, up from $2.2 billion.
The Supplementary Estimates has also shown an increase in the allocation for government pensions, moving to $8.5 billion, up from $7.9 billion.
The Standing Finance Committee of Parliament will examine the Supplementary Estimates today (March 8) in the House of Representatives.