Full Document & Highlights: 2014/2015 Budget
This morning [Feb 21] Finance Minister Bob Richards delivered the 2014 Budget in the House of Assembly, detailing the Government’s financial plans for the coming year. You can view our live blog of today’s events here, and the full budget statement below
Some of the budget highlights:
- As of 31 March 2014, gross public debt will stand at $2.305 billion and debt, net of the Sinking Fund will stand at $1.772 billion.
- Revenue estimate for 2014/15 is $901.7 million, which $29.8 million or 3.4% higher than the original estimate for the previous year
- Most significant increase will be in Customs Duty yield, expected to rise by $25.7 million or 14.7% compared to the previous year
- Other than the fee adjustments there are no new taxes
- The overall budget expenditure including current account and capital account outlays, debt service and sinking Fund Contributions is $1.169 billion, a $70.2 million cut in current expenditure.
- The overall budget balance is projected to be a deficit of $267.3 million. This represents a $64.3 million or 19.4% deficit reduction when compared to the 2013/14 deficit of $331.6 million
- Govt. is considering “mutualization, outsourcing, or privatization” for some departments [details here]
The full 2014 Budget is below [PDF here]:
Bernews,
Your coverage of the Budget presentation was first class, well done!!
Personally, I have no idea how they do it but they do it consistently. Good jawb, Bernews!
gotta give it to you BERNEWS b4 u we only had thinly veiled bias reporting from u kno who