2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 76

capital expenditure. Consequently, the outturn for Capital
Expenditure in 2017/18, at $233 million, is largely in line
with the Budget projection.
For its part, Recurrent Revenue in the current
fiscal year continued to perform less buoyantly than had
been projected at the time of the Budget Communication and
this despite the economy posting a real rate of growth of 1.4
per cent in 2017, exactly as had been projected last May. At
a projected $2,020 million, Recurrent Revenue is expected
to be some $130 million below forecast. Given the rebound
in real growth, such lackluster performance of revenue is
definitely a matter of pressing concern and speaks to the
mandate given to the Ministry of Finance and its Revenue
Enhancement Unit to address the areas of revenue under-
performance so as to exceed the status quo run rate in the
upcoming fiscal year.
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