Lawmakers today approved the Estimates of Revenue and Expenditure for the 2018 fiscal year, of 993-million, 535-thousand 449 dollars, which represents a 1.7 percent increase over the approved Budgetary Estimates for 2017.
The 2018 Budgetary Estimates comprises Recurrent Expenditure inclusive of Amortization and Sinking Fund Contributions of 776 million, 879 thousand, 739 dollars, and Capital Expenditure of 216 million, 656 thousand and 710 dollars.
The Budget is financed by Current Revenue of 621-million, 658-thousand, 138 dollars and Capital Receipts totaling 371 million, 877 thousand, 312 dollars. The Current Expenditure is 617 million, 421-thousand, 847 dollars.
There is a modest current account surplus of 4.2 million dollars in the 2018 Estimates.
Minister of Finance Camillio Gonsalves in his wrapping up comments following debate on the 2018 Estimates of Revenue and Expenditure said the Estimates are about growing the economy and advancing sustainable development.
The approval of the estimates paves the way for the Budget presentation on Monday February 5.
The Budget session will start at 4:00pm and will be preceded by the Throne Speech from Governor General Sir Frederick Ballantyne.