The Star (St. Lucia) - - LOCAL -

$220.9 mil­lion.

Fi­nanc­ing needs are ex­pected to be sourced from dis­burse­ments from loans, trea­sury bills and bonds. The To­tal Grants and Rev­enue for 2017-2018 is ex­pected to equate to $1.158 bil­lion.

Re­cur­rent rev­enue is also ex­pected to in­crease by 2.1 per­cent or $22.1mil­lion, due to en­hanced rev­enue measures, more ef­fi­cient tax col­lec­tions and bet­ter per­for­mance of the Ci­ti­zen­ship by In­vest­ment Pro­gramme. The largest con­trib­u­tor to re­cur­rent rev­enue will be Value Added Tax at 28% closely fol­lowed by In­come Tax at 25%. The amount al­lo­cated for wages and salaries for the up­com­ing fis­cal year is ex­pected to in­crease by 2.8 per­cent com­pared to the pre­vi­ous year.

The gov­ern­ment’s cap­i­tal ex­pen­di­ture re­flects its in­ten­tions to fo­cus on grow­ing the econ­omy and in­vest­ing in

(Con­tin­ued on page 16)

Gov­ern­ment ministers and mem­bers of the op­po­si­tion dis­sect the bud­getary al­lo­ca­tions an­nounced this week.

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