BUDGET STATEMENT 2014
38
SUSTAINING GROWTH, SECURING PROSPERITY
Mr. Speaker, I have ensured that our expenditure
profile not only reflects fiscal prudence but also
maintains the public socio-economic agenda
of this Administration. In addition, to promote
increased employment and investment, I have
increased our capital programme by over
$500.0 million in this fiscal year, bringing the
total amount to $8.0 billion or 4.5 percent of
GDP, the largest in our nation’s history.
Pursuant to our public policy agenda the
allocations to the various Ministries are
as follows:
• Education and
Training
:
$9.820 billion
• National Security
:
$6.497 billion
• Health
:
$5.096 billion
• Public Utilities
:
$3.786 billion
• Housing
:
$2.708 billion
• Local Government :
$2.448 billion
• Works and
Infrastructure
:
$2.431 billion
• Transport
:
$2.324 billion
• Agriculture
:
$1.324 billion
12. ESTIMATES OF REVENUE AND
EXPENDITURE FOR 2013-2014
Mr. Speaker, let me turn now to our estimates
of revenue and expenditure for fiscal year
2014. Government expenditure is calibrated
on the basis of revenue projections which are
predicated on oil and gas price assumptions of
US$80.00 per barrel and US$2.75 per mmBtu
respectively. We have also made provision in
the estimates for clearing a number of long
outstanding balances.
Mr. Speaker, we are projecting the following for:
• Total Revenue
:
$55.041 billion
• Oil Revenue
:
$23.374 billion
• Non-oil Revenue
:
$32.667 billion
• Total Expenditure
net of Capital
Repayments and
Sinking Fund
contributions
:
$61.398 billion
Mr. Speaker, in the next fiscal year, I am project-
ing a fiscal deficit of $6.357 billion or 3.6 percent
of GDP, down from the 4.6 percent in the FY2013
Budget, thereby fulfilling my commitment to the
citizens of Trinidad and Tobago.
