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Stabroek News

Over $20 billion more on budget
published: Wednesday | November 28, 2007

Minister of Finance and the Public Service, Audley Shaw, yesterday tabled the first supplementary estimates in the House of Representatives for the 2007/2008 fiscal year.

The estimates, totalling just over $402.5 billion, come with recurrent expenses of $13.4 billion and capital expenditure amounting to $8.7 billion.

It represents $22.1 billion more than the $383 billion Budget that Dr. Omar Davies, the country's last Finance Minister, tabled in April.

An increase of $5.6 billion on the $42.2 billion that was approved in the 2007/08 expenditure has been earmarked for the Ministry of Education.

The Ministry of Health and Environment has also been marked for increased allocation. Approximately $3.35 billion more is heading to that ministry which would put the recurrent estimates at $20.9 billion.

Also poised to receive more funding is the Ministry of National Security, with the recurrent allocation to be increased by $1.84 billion.

The Standing Finance Committee of Parliament will on Tuesday, December 11 examine the estimates before taking it to the House for approval.

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