Wed | Sep 20, 2017

New Budget to be tabled February 9

Published:Wednesday | January 18, 2017 | 1:51 AM
Finance Minister Audley Shaw pats the shoulder of Prime Minister Andrew Holness during the Budget Debate last year.

The Estimates of Expenditure for the 2017/2018 fiscal year will be tabled in the House of Representatives on Thursday, February 9.

Meanwhile, Finance and the Public Service Minister Audley Shaw will open the Budget Debate for the new financial year on March 9 and close it on March 22.

Shaw made the announcement while speaking in Parliament last night during the debate on the First Supplementary Estimates of Expenditure for 2016/2017.

He also said the Government is completing the work necessary to close the current financial year.

The finance minister says the additional expenditure of $12.8 billion in the First Supplementary Estimates will be financed primarily from a combination of higher inflows from revenues and grants, higher financial distributions of $2.1 billion from the public bodies, as well as higher loan receipts.

According to Shaw, the profile of the supplementary budget is consistent with the primary surplus target under the precautionary stand-by arrangement.

The Supplementary Estimates were passed last night.