The Finance Minister Dr Nigel Clarke presented the Third Supplementary Estimates in Parliament on Tuesday, suggesting an additional allocation of 58.2 billion dollars for the current fiscal year. Among the notable highlights are provisions for the upcoming local government elections. This year’s national budget already crossed the trillion-dollar threshold in March, and it is now set to increase further with the introduction of the Third Supplementary Estimates for the 2023/24 financial year.

The newly proposed budget stands at one trillion, ninety-four billion, three hundred and eighty-seven million dollars, representing a 58.2 billion dollar increment compared to the Second Supplementary Estimates. Dr. Clarke explains that these budgetary adjustments encompass several factors, including allocations to facilitate the implementation of the second year of the compensation restructuring for ministries, departments, and agencies that were not previously addressed. Watch the report:

Reporter:  Natalia Clarke

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