House approves $85b interim budget

Published: Friday | March 27, 2009



Minister of Finance Audley Shaw. - File

Lawmakers on Tuesday gave the go-ahead to the Ministry of Finance to draw down $85.1 billion from the Consolidated Fund as 'carry on' expenses until the 2009/10 budget is debated and approved.

The budget or Estimates of Expenditure is to be tabled on April 7, followed by its presentation and debate in the weeks thereafter.

The majority or just over half the funds approved Tuesday, $43.4 billion, will pay for salaries and travel. The total recurrent bill, of which salaries is a big part as well as debt servicing costs, amounts to $61.2 billion. The other $23.9 billion is for capital programmes.

"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 of US$10 million monthly," Shaw said.

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