The Estimates of Revenue and Expenditure for the 2018 Fiscal were presented in Parliament on Monday by Minister of Finance, Camillo Gonsalves.
The 2018 Estimates amount to 993-million, 535 thousand, 449 dollars. In presenting the figures, Finance Minister Camillo Gonsalves said they represent a 1.7 percent increase over the approved budget for 2017.
He said the 2018 Budget comprises Recurrent Expenditure inclusive of Amortization and Sinking Fund contributions of 776-million, 879-thousand, 739 dollars and Capital Expenditure of 216-million, 655-thousand, 710 dollars
Minister Gonsalves anticipates that the Budget will be financed by current revenue of 621-million, 658-thousand 138 dollars and Capital Receipts totaling 371-million, 877-thousand, 312 dollars
As it relates to the Current Estimates, Minister Gonsalves said there is a modest Current Account surplus of 4.2 million dollars in the 2018 Estimates. Minister Gonsalves said the improvement in the revenue performance is reflective of the modest real economic growth projected for the year, as well as the planned improvements in administration at the main Revenue Collecting Agencies.
The total public debt amounts to over one billion dollars.