Clarke tables trillion-dollar budget
Published:Tuesday | February 14, 2023 | 3:43 PM
Finance Minister Dr Nigel Clarke tabled Jamaica's first trillion-dollar budget during the sitting of the House of Representatives on Tuesday.
The estimates of expenditure for financial year 2023/2024 is one trillion, 21 billion, six hundred and seventy-two million, six hundred and forty-five thousand dollars ($1021,672,645,000).
The total recurrent or day-to-day expenses budget is just under $947 billion; while the money allocated for capital projects totals just over $75.37 billion.
The finance minister in tabling the bill moved that the estimates be referred to the Standing Finance Committee of Parliament.
The historic trillion-dollar budget is $23 billion or 2.3 per cent more than the $998 billion budget for financial year 2022/2023.
Factoring for annual inflation of 9.4 per cent, this means that this year's budget is effectively 7.1 per cent less than the previous budget.
- Neville Graham.
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