2023 Estimates amount to EC$1.4 billion

By Admin. Updated 5:36 p.m., Wednesday, December 14, 2022, Atlantic Standard Time (GMT-4).

The Estimates of Revenue and Expenditure for the 2023 fiscal year amount to one billion, four hundred and forty five million, eight hundred and eighty-six thousand, six hundred and thirteen dollars ($1,445,886,613).

This figure represents an 8.8percent increase over the approved budget for 2022.

This was revealed when the Estimates for Revenue and Expenditure was passed in Parliament on December 13.

The budget for 2023 is broken down as follows:

• Recurrent Expenditure (inclusive of Amortization and Sinking Fund Contributions) nine hundred and seventy-four million, three hundred and twenty-three thousand, five hundred dollars ($974,323,500); and 

• Capital Expenditure four hundred and seventy-one million, five hundred and sixty-threethousand, one hundred and thirteen dollars ($471,563,113);

Financing for the 2023 budget is expected to come from: 

• Current Revenue of seven hundred and sixty-onemillion, four hundred and thirty-one thousand, two hundred dollars ($761,431,200); and

• Capital Receipts totaling six hundred and eighty-four million, four hundred and fifty-five thousand,and four hundred and fourteen dollars($684,455,414).

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