Mid-Year Budget Communication 2017-2018 Mid-Year Budget Communication | Page 9

ty. In line levels
with this
commitment,
new
corresponding
of excess
liquidity.
In line
with this commitment, new corresponding
be sought from Parliament, today, to cover this sum.
borrowing authority will be sought from Parliament, today, to cover this sum.
Mr. Speaker,
diture (adjusted for
debt repayment)
during
the first
Recurrent
Expenditure
(adjusted
for six
debt repayment) during the first six
fiscal year totalled
$1,003
million,
up slightly
from
months some
of the
current
fiscal year
totalled
some $1,003 million, up slightly from
esponding period of 2016/17. As mentioned, the outturn
$994 million in the corresponding period of 2016/17. As mentioned, the outturn
impacted by the overhang commitments of the previous
this year was negatively impacted by the overhang commitments of the previous
ed above. administration
Despite this, the
expenditure
total
this year
referenced
above.
Despite
this, the expenditure total this year
r cent of the amount budgeted for the entire fiscal year, as
represents only 44.7 percent of the amount budgeted for the entire fiscal year, as
t in the first half of 2016/17
compared to 50 percent in the first half of 2016/17
Mr. Speaker,
per cent cut being
implemented
the
board,
Despite
the 10 across
percent
cut
being the
implemented across the board, the
nal emoluments—salaries and allowances—in the first half
amount spent on personal emoluments—salaries and allowances—in the first half
$373 million
as compared
to $358
of this
year totalled
$373 million
million in
as the
compared to $358 million in the
of 2016/17, corresponding
a $15 million
increase.
This is primarily
period
of 2016/17,
a $15 million increase. This is primarily
t industrial explained
agreement-related
lump industrial
sum payment
($7.7
by the recent
agreement-related
lump sum payment ($7.7
g overtime payments to the Police ($6.0 million). Given the
million) and outstanding overtime payments to the Police ($6.0 million). Given the
alary bill to
our overall
expenditure,
contribution
of recurrent
the salary
bill to our the
overall recurrent expenditure, the
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