Gov’t tables $612b budget

Finance Minister Dr Peter Phillips has tabled a $612 billion budget for the 2012-2013 fiscal year.

This is $76 billion or approximately 14 per cent more than the $536 billion which was allocated for expenditure last year.

The budget includes projected spending of $375 billion on recurrent expenses which includes items such as salaries, utilities and interest payments on government loans.



On the capital side of the budget the government plans to spend $237 billion this year, a $53 billion increase or 29 per cent more than last year.

The Finance Minister will tell the country how he will finance the Budget on Thursday May 24.

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