Wed | Aug 23, 2017

Phillips to table revised Budget today

Published:Tuesday | January 19, 2016 | 1:31 PM
Finance Minister Peter Phillips. The Estimates are expected to reflect changes in the $641.6 billion spending package approved in March.

Finance Minister Dr Peter Phillips will this afternoon table in Parliament, a revised Supplementary Estimates of Expenditure.

The estimates are expected to reflect changes in the $641.6 billion spending package approved in March.

Central Government operations, excluding amortisation, was budgeted at $462.9 billion or 27.4 per cent of the Gross Domestic Product.

Amortisation is an accounting term that refers to the repayment of loan principal over time.

Of this year's budget, $209 billion was allocated for capital expenditure but it is believed that this will be reduced in the revised Budget.