September 28, 2007

PM: Capital expenditure numbers up

This country looks set to see a record year in capital expenditure, numbers from January to August this year indicate.{{more}}

Dr Ralph Gonsalves presented the figures, showing this country’s fiscal position this year, up to August 31st, compared with the same period last year.

He was responding to a question asked by Opposition Leader Arnhim Eustace during the questions and answers segment, at the sitting of Parliament last Thursday, September 20th

Dr Gonsalves announced that this year’s capital expenditure up to the period mentioned was $76,116 million, up 56 percent from last year.

He said that the numbers are indicating a potential record year for capital expenditure, saying it could reach $125 million.

He explained that while capital expenditure in 1998 was $199 million, this was largely due to the take over of the Ottley Hall debt.

“Theses numbers, any minister of finance will feel encouraged by them,” Dr Gonsalves said.

Government’s total revenue and grants for the period in question was up 15 percent from last year’s, to $292,394 million, Dr Gonsalves also announced.

Total expenditure for the period was $314.56 million, up 14 percent from last year.