Education received the largest share of the almost $65 billion budget delivered yesterday afternoon by Finance Minister Larry Howai in the Parliament.
The theme of the 2015 budget was “Empowering Our People Through Sustained Economic Growth and Prosperity”.
The Finance Minister said that his administration stuck to its promise to reduce the national deficit.
This year’s budget was based on an oil price of US $80 per barrel, and a gas price of $2.75 per mmbtu, this means that the Government expects a total revenue of $60.35 billion, however it plans to spend close to $65 billion.
Minister Howai has stated that the largest share of the $64.6 billion will be spent on Education, National Security and Health.
Education has received $10.1 billion, National Security $6.9 billion and the health sector $5.5 billion.
The Finance Minister revealed that commercial opportunities are increasing as we embark on a path of economic recovery.
With National Security getting the second largest share of the National Budget, Minister Howai noted the reduction in the number of serious crimes.
The Minister noted that the budget was one that went beyond just economics.
Debate on the 2014/2015 fiscal package is scheduled to start on Friday at 10 am, with a reply by Opposition Leader Dr. Keith Rowley.