Prime Minister and Minister of Finance Dr. Ralph Gonsalves presented the Estimates of Revenue and Expenditure for the fiscal year 2016 in Parliament this morning, which amount to 912-million, 897-thousand 311 dollars.
The Prime Minister said this year’s budget is some six percent or 58.5 million dollars below the amount budgeted for 2015.
He said the reduction is accounted for on the capital side of the Budget, which is about 33 percent less than the planned Capital Program last year.
The Prime Minister said the Current Expenditure amounts to 576-million 553-thousand 198 dollars, while Current Revenue is estimated at 564-million, 627-thousand, 600 dollars.
According to the Finance Minister, the Current Revenue estimate for 2016 is 6.1 percent or 32.28 million dollars higher than the budgeted Current Revenue for 2015.