Gov’t tables reduced budget for upcoming fiscal year, amounting to $852.7 Billion

by February 11th, 2020

The government has tabled a reduced budget for the upcoming fiscal year amounting to 852.7 billion dollars.

Finance Minister Dr. Nigel Clarke tabled the estimates of income and expenditure in Parliament this afternoon (February 11).

In tabling the estimates, Dr. Clarke says the budget is just over 6 billion dollars less than the budget for the current fiscal year.

He says the government continues to prioritise capital expenditure, which is 3 percent of gross domestic product, while providing adequate social security protection and other government services.

The Finance Minister states that the budget envisages a primary surplus that will facilitate the continued reduction of the debt to GDP ratio.

And Opposition Spokesman on Finance, Mark Golding wants the Auditor General to review the estimates of income and expenditure ahead of the Standing Finance Committee

The Standing Finance Committee, comprising the whole House of Representatives, will meet on February 24 and 25.

Mr Golding says the review by the Auditor General is crucial to ensure that the fiscal policy framework is adhered to.