FOR 2019/20, the government’s capital expenditure reflects a merging of its capital ‘A’ (domestic) and capital “B” budget (multilateral/bilateral) Heads into a single Head in the estimates, creating a single capital Head for individual portfolio ministries.
For 2019/20, the allocation for the total spending under this single heading is $72.1 billion, which represents a 14.6 per cent of the total non-debt expenditure and 4.8 per cent increase over the 2018/19 revised estimates.
The Ministry of National Security (MNS), with an allocation of $20.2 billion, or 28 per cent of the capital budget, accounts for the largest share.
The allocation to the MNS represents an increase of $7.5 billion, or 61 per cent over the 2018/19 budget. This is reflective of the priority which continues to be placed on improving the mobility of the security forces and expanding the technological and human resource capabilities of the sector.
Of the $18.4 billion allocated to the Ministry of Economic Growth and Job Creation, $14.4 billion, or approximately 79 per cent of that figure relates to its works portfolio, with the largest provision, $8.4 billion, going to the Sourth Coast Highway Improvement project , and $4.7 billion to the Major Infrastructure Development Project.
The Ministry of Health’s allocation reflects an increase of $1.8 billion in the funds to provide advance works with respect to the restoration of the Cornwall Regional Hospital.
In terms of debt servicing, the total provision is $274.4 billion, or 34.2 per cent of the total expenditure (including amortisation and outflows). Interest payments are projected to decrease only slightly, while amortisation is forecast to decline by 7.5 per cent compared to the outturn for 2018/19.
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