Members of Parliament yesterday approved a Motion to adopt the 2019 Estimates of Revenue and Expenditure, which were presented by Minister of Finance, Camillo Gonsalves.
The 2019 Estimates amount to: one billion, 67-million, 343 thousand, 283-dollars, representing an increase of 7.4% over the approved Budget for 2018.
Minister Gonsalves said the 2019 Budget is made up of Recurrent Expenditure of 844-million 763-thousand 703-dollars and Capital Expenditure of 222-million 579-thousand 580-dollars.
The 2019 Budget is financed by Current Revenue of 656-million, 590-thousand, 775-dollars and Capital Receipts totaling 410-million 743-thousand 508-dollars.
During his presentation, Minister Gonsalves announced that a number of new positions have been created in the Public Service and said several new posts have also been created in the Ministry of Health, Wellness and the Environment and the Ministry of Foreign Affairs, Commerce and Trade.
The Public Sector Investment Loan Bill was the only one passed at yesterday’s session of Parliament.
And a Resolution was also passed, authorizing the Government to borrow 50-million dollars from local Commercial Banks during the period January 1st to December 31st, 2019, to meet the current requirements of the Government.
Parliament was suspended until Monday February 4th at 4:00pm, when there would be the ceremonial opening of the 4th Session of the 10th Parliament.