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Gov’t tables $612b budget
Published: Thursday May 10, 2012 | 2:52 pm
Finance Minister Dr Peter Phillips has tabled a $612 billion budget for the 2012-2013 fiscal year.
This is $76 billion or approximately<span style="font-weight: bold"> 14 per cent more</span> <span style="font-weight: bold">than</span> the $536 billion which was allocated for expenditure <span style="font-weight: bold">last year</span>.
The budget includes projected spending of $375 billion on recurrent expenses which includes items such as salaries, utilities and interest payments on government loans.
<span style="font-weight: bold">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.</span>
The Finance Minister will tell the country how he will finance the Budget on Thursday May 24.
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