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It will cost the country a staggering $547 billion to run the affairs of Government during the 2009/2010 financial year. The figure represents a $40 billion increase over the $507 billion budget presented last year.
The Minister of Finance and the Public Service Audley Shaw tabled the Estimates of Expenditure in Parliament Tuesday afternoon.
With the ravaging effects of the global credit crisis bearing down, the Bruce Golding administration had for weeks been giving warning signs that <span style="font-weight: bold">it will be hard pressed to find the money to fund its multi-billion dollar budget</span>.
Now the bulky document detailing expected spending by the administration has been unveiled showing that key ministries have suffered deep cuts in their capital expenditure.