Trinidad News, Tobago News

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Tuesday, October 24 2017 @ 05:31 AM AST

Trinidad & Tobago presents $50.5 billion budget for fiscal 2018

Deficit for fiscal 2018: $4.76 billion or 3.1% of GDP vs $12.6 billion or 8.4% of GDP last fiscal year

Revenue: $45.741 billion of which $6.12 billion expected from oil and gas sector

Expenditure: $50.5 billion, same as ACTUAL expenditure last fiscal year

Govt to borrow $4.5 billion from local market to finance deficit; Additional deficit will be financed from sale of assets programme and withdrawals from HSF to generate $7.5b or 4.4% of GDP

LAST YEAR (Fiscal Year 2017: Oct. 1, 2016 to Sept. 30, 2017):

* Deficit: $12.6 billion, 8.4% of GDP

* Revenue: $37.9 billion

* Expenditure: $50.5 billion

MORE FROM FISCAL 2018:

* * $2.1936 billion for Tobago, 3.4% of national budget
* * * * of this $1.86 billion for recurrent expenditure and $315.6 million for capex and $18 million for URP

* * Education $7.29B

* * National Security $6.42B

* * Health $6.03B

* * Public Utilities $3.55B

* * Works and Transport $3.79B

* * Housing $1B

* * Agriculture $0.54B

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