Jamaica News: For the 2019/20 Fiscal Year, the Government has presented a Budget of $803 billion, with $731 billion allocated for Recurrent (housekeeping) expenses and $72 billion for Capital (development) projects.
Details of the projections are outlined in the Estimates of Expenditure, which was tabled in the House of Representatives, today (February 14), by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke.
The Ministry of Finance and the Public Service has been allocated the largest sum, with $385.6 billion for Recurrent expenses and $5.7 billion for Capital expenditure. A large portion of the sum will go towards meeting Jamaica’s debt obligations.
Large sums have also been allocated to several other Ministries by the Government.
The Ministry of Education, Youth and Information gets the second largest amount with $109.4 billion for Recurrent expenses and $1.2 billion for Capital spending.
The Ministry of Health has been allocated $69 billion for Recurrent expenses and $3.7 billion for Capital projects, while the Ministry of National Security has received $72.4 billion for Recurrent expenditure and $20.2 billion for Capital projects.
For the Ministry of Economic Growth and Job Creation, $10.9 billion has been allocated for Recurrent and $18 billion for Capital; Ministry of Justice, $8.5 billion for Recurrent and $1.7 billion for Capital; and Office of the Prime Minister, $9.1 billion – Recurrent, and $7.9 billion – Capital.
When the Second Supplementary Estimates was tabled in the House on January 15, it showed that the Government intends to spend $802.56 billion to March 31, the end of the 2018/2019 fiscal year.
Source: JIS News