Mid-Year Budget Communication 2017-2018 Mid-Year Budget Communication | Page 10

e to manage government
this element
of continue
our budgetary
spending,
will
to manage
this element of our budgetary
Mr. Speaker,
spending,
nsion obligations
and the
to recruit
and retain
especially
in need
light still
of pension
obligations
and the need still to recruit and The purpose of thi
retain
he Public Service.
professional talent into the Public Service.
update on fiscal develop
more detailed and comp
purchases of goods In
and
totalled
$133 of
million,
the services
first half,
purchases
goods and services totalled $133 million,
Parliament during my co
llion in 2016/17.
This year’s
however,
represents
compared
with total,
$127 million
in 2016/17.
This year’s total, however, represents
related resolution.
e full-year budgeted
amount,
as
compared
to
39.7
per
only 35.9 percent of the full-year budgeted amount, as compared to 39.7 percent
Mr. Speaker,
in 2016/17.
I begin by providin
Mr. Speaker,
and prospects, giving th
he first six months of the 2017/18 fiscal year, Recurrent
As mentioned, in the first six months of the 2017/18 fiscal year, Recurrent
performance and the ev
n, was up $25 million from the same period the previous
Revenue, at $881 million, was up $25 million from the same period the previous
are clear indications tha
year.
from its lengthy period
up $18.7 million in Tax
the revenue
first half
as up
compared
to the in the first half as compared to the
was
$18.7 million
between 2012 and 2016
is category, VAT was up by $10 million, motor vehicle tax
previous year. Within this category, VAT was up by $10 million, motor vehicle tax
billion to $10.2 billion.
x by $5 million and excise taxes by $3.8 million. Import
by $7 million, gaming tax by $5 million and excise taxes by $3.8 million. Import
Mr. Speaker
own by $6 million.
was by
higher
by $6 Non-tax revenue was higher by $6
duties, Non-tax
however, revenue
were down
$6 million.
However, it is esti
million.
order of 1.8 per cent in
ased at the uptick in
revenue
collections
the in revenue collections so
While
we are
pleased so
at far
the for
uptick
far for the
construction activity asso
epresents 41 per cent of the full-year amount forecast in
fiscal year, the outturn represents 41 percent of the full-year amount forecast in
as rebuilding work in
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