With anticipation building for Monday’s reading of the National Budget, Chief Secretary, Farley Augustine, is optimistic about receiving a more substantial allocation.
The Assembly has requested $4.54 billion from the central government, and Augustine hopes it approaches the 6.9 percent allotment recommended by the Dispute Resolution Committee (DRC). If it cannot be that high, he is willing to accept a budget closer to the medium point, around five percent.
He hopes that this data encourages the Minister of Finance, Colm Imbert to allocate a higher percentage of national budget. In the previous fiscal year, the THA requested $3.97 billion but received $2.5 billion, representing 4.3 percent of the budget.
Minister Imbert noted that last year’s allocation was consistent with past budgets, when the breakdown is compared. This includes funds for recurrent expenditure, development programs, URP, and CEPEP, as well as financing for major projects and coastal protection in Tobago.
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