Kingston.
The Estimates of Expenditure tabled by Finance Minister Dr Peter Phillips in the House of Representatives yesterday, shows the budgeted spending for the 2013-2014 fiscal year at just over $80 billion or 13 per cent less than the $602.5 billion budget which was tabled for the previous fiscal year.
Of the programmed amount $225 billion or some 45 per cent, goes to pay debt.
This year the Government has allocated $370.5 billion to ministries and agencies to pay recurrent or housekeeping expenses up from $367.7 million last year and $150.3 billion for capital projects down from $234 billion last year.
On the capital side, with the approximately $106 billion taken out for debt repayment, $44 billion is left for the construction, major maintenance and rehabilitation of infrastructure; computerization and other administrative projects; and the acquisition of machinery and equipment.
