Estimates of $1.8 Billion presented to Parliament

Minister of Finance, Camillo Gonsalves yesterday, January 9, 2025 presented the Estimates of Revenue and Expenditure for the Fiscal Year 2025.

Presenting the package in the temporary parliament building at Glen, minister Gonsalves said this year’s Estimates amount to $1.84 billion.

The Finance Minister outlined that “ this figure represents a 14.4 per cent increase over the approved budget for 2024”.

In the 2025 Estimates, Recurrent Expenditure, inclusive of amortization and sinking fund contributions amount to one billion, one hundred and fifty million, seven hundred and thirteen thousand, four hundred and sixty six dollars.

Capital Expenditure for the year will amount to six hundred and ninety eight million, six hundred and twenty eight thousand, five hundred and thirty one dollars.

During his presentation on Thursday afternoon, minister Gonsalves explained to the House that funding for the 2025 Budget will come from current revenue of nine hundred and seven million, seven hundred and twenty nine thousand, three hundred and twenty dollars.

Capital receipts of nine hundred and forty three million, six hundred and twelve thousand, six hundred and eighty seven dollars will also fund the 2025 Budget.

The finance minister revealed that 91 new posts have been created in the public service.

The Supplementary Estimates of $136.5 million, which were approved in the wake of Hurricane Beryl’s destruction on July 1, 2024, is also reflected in the 2025 Estimates.

The 2024 National Budget which was presented in January last year amounted to $1.6 billion.