Big squeeze - Budget demands tighter spending
Apr 05, 2013
KINGSTON, Jamaica - Most government ministries and departments will have to survive with less money this fiscal year as Finance Minister Dr Peter Phillips has kept his word and dramatically tightened the Government's spending plans.
Phillips yesterday tabled a spending plan for the 2013-2014 fiscal year which reflects huge savings on interest payments and debt repayment but still leaves ministries and agencies with less to spend when inflation is factored in.
The 2013-2014 Estimates of Expenditure is just over $80 billion, or 14 per cent less than the $602.5-billion Budget that Phillips tabled in the revised Estimates for the previous fiscal year.
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