Premier and Minister of Finance Dr. the Honourable Natalio Wheatley has announced a budget for 2024 totaling $382.67 million.
Premier Wheatley provided the figures during the 2024 Budget Address at the Sixth Sitting of the First Session of the Fifth House of Assembly.
Of the total budget, he said $360.24 million is expected to come from taxes, $5.96 million from grants and $16.47 million from “other revenue sources.”
The total figure also represents a recurrent expenditure of $376.95 million and a recurrent surplus of over $15 million which the premier detailed.
Total capital expenditure is estimated at $70.9 million of which $45.45 million will be for development projects and 25.45 million for capital acquisitions.
The premier detailed how his government intends to raise the aforementioned funds.
As it pertains to the allocation of ministries, the Ministry of Health and Social Development is expected to receive the largest percentage with 20.38 percent or $95.92 million followed by the Ministry of Communication and Works with 15.92 percent or $74.95 million.
Premier Wheatley provided a comprehensive breakdown of the allocations.
The 2024 budget represents a decrease when compared to this year’s budget of $412,971,110.