2022/2023 budget passes 1 trillion mark

An adjustment to the budget for this fiscal year, has pushed it over the trillion dollar mark.

This is the second time the finance ministry has announced a trillion dollar budget, but the first time that it has been approved by parliament.

The previous announcement related to what government is expecting, for the next fiscal year, 2023 / 24.

On Tuesday, the fourth supplementary estimates, for this fiscal year, 2022 / 23, were approved in the house of representatives, pushing budgeted expenditure to approximately $1.2 trillion.

Minister of Finance Dr. Nigel Clarke said an increase in expenditure by $10 billion, facilitates payment of public sector salaries, under the compensation restructuring exercise.

The adjustments also impact capital expenditure.


Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.