By Admin. Updated 9:33 p.m., Monday, December 13, 2021, Atlantic Standard Time (GMT-4).
The Estimates of Revenue and Expenditure for the 2020 fiscal year were presented in the House of Assembly today (December 13) by Finance Minister, Camillo Gonsalves.
The Estimates amount to one billion, three hundred and twenty nine million, three hundred and forty thousand, eight hundred and sixty dollars.
This figure represents a 9.6 percent increase over the approved budget for 2021. The approved budget for 2021 does not include the subsequent volcano-approved appropriations. Mr. Gonsalves said in Parliament.
For the 2022 estimates, recurrent expenditure, inclusive of amortization and sinking fund contributions amount to nine hundred and thirty one million, eight hundred and seventy six thousand, six hundred and sixty dollars.
Capital expenditure is estimated at three hundred and ninety seven million, four hundred sixty three thousand, eight hundred and sixty dollars.
Financing for the 2022 budget is expected to come from current revenue of six hundred and seventy seven million, five hundred and eighty six thousand dollars, and capital receipts totaling six hundred and fifty one million, eight hundred and thirty two thousand, eight hundred and sixty dollars.
The Estimates of Revenue and Expenditure are laid before the House before the Appropriations Bill for any fiscal year is debating in Parliament. The 2022 Appropriations Bill, known as the National Budget will be debated in January, 2022.