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 The Budget

The Minister presents Government’s expenditure and revenue estimates for parliamentary approval at the start of each financial year (April to March of the following year).   They are organized by public service into what is termed Heads of Estimates, and reflect government’s development policies and priorities.  The Budget is prepared under the direction of the Financial Secretary.

There are two accounts, the recurrent and capital accounts.  The recurrent account represents the cost of maintaining the permanent administrative structure of government.   The capital account is the cost of maintaining the national infrastructure, and implementing projects that enhance the country’s ability to pursue growth and development.  Each ministry’s estimates are based on a corporate plan whose goals must be in harmony with the overall objectives of Government.