JIS News

The House of Representatives today (March 24) approved the withdrawal of $85.1 billion from the Consolidated Fund to defray expenses until the 2009/10 budget takes effect.
Minister of Finance and the Public Service, Audley Shaw, who moved the resolution, explained that $61.2 billion will be used to meet ongoing recurrent overheads, while $23.9 billion will be spent on capital expenditure.
“Just to highlight that the capital expenditure programme includes a portion of the liquidity support programme from the Inter-American Development Bank, as well as to cover five monthly payments to the Clarendon Alumina Productions (CAP) of US$10 million monthly,” Mr. Shaw said.
The main area of spending in terms of the recurrent overhead relates to the payment of outstanding salaries and travelling in the public sector, amounting to $43. 4 billion, he added.
Opposition Spokesperson on Finance, Dr. Omar Davies, noted that the Opposition did not have a problem with the resolution.
“The Opposition has no objection to this vote on account, because this is a normal part of the orderly transition from one fiscal year to another,” Dr. Davies said.
The resolution makes provision for the continuation of the ordinary business of Government during the interim period. The new budget will be tabled by Mr. Shaw on April 7.

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