Parliament Supplementary Estimates

Prime Minister and Minister of Finance Dr. Ralph Gonsalves has presented supplementary estimates for the 2014 fiscal year amounting to 83-million 980-thousand, 800 dollars.

Presenting the figures in Parliament this morning, the Prime Minister said the supplementary estimates comprise recurrent expenditure of 11-million dollars and capital expenditure of 72-million, 980-thousand, 800-dollars.

The Prime Minister explained that the Supplementary Estimates have been crafted to provide for additional expenditure relating to the floods of December 2013.

The Prime Minister said the damage and loss which this country sustained in the December 2013 floods amount to 17-percent of its Gross Domestic Product, or about 330 to 350-million dollars.

Dr. Gonsalves explained that the supplementary estimates have been carefully prepared.

Meanwhile, Leader of the Opposition Arnhim Eustace has expressed concern about how the supplementary estimates would affect the quality of life of Vincentians and the economy as a whole.

Contributing to debate on the Supplementary Estimates Mr. Eustace said the additional amount would take the national budget to close to a billion dollars.