PHILIPSBURG--The draft 2016 budget, though “lean and mean,” is projected to have a NAf. 20 million “reserve” should all projections become reality, according to Finance Minister Richard Gibson. That reserve will be funnelled to paying a part of Government’s debts to Social and Health Insurance Fund SZV and the General Pension Fund APS.
Debate on the draft budget is scheduled to start in the Central Committee for Parliament on Monday, February 8.
Gibson has sent the draft budget to the Committee for Financial Supervision CFT for review ahead of Parliament’s debate.
The country’s expenditure, spanning from Parliament to across the seven ministries, stands at NAf. 438,901,940, while projected income is tagged at NAf. 458,901,941. All ministries are slated to bring in revenue into Government’s coffers, according to the draft budget submitted by Government to Parliament via Governor Eugene Holiday last week.
Gibson said at the Council of Ministers Press Briefing on Wednesday the budget, though lean and mean, is “yet realistic.”
“I have good hope that we will be able to generate additional revenue … , but we have to generate it first” before it can be spent, he said.
The “real task” and test of the budget will come following its approval by Parliament, he said. That task will be to monitor expenditures in each ministry and department monthly to curb any unnecessary or overspending.
Parliament and the High Councils of State combined budget for 2016 stands at NAf. 16,507,479, down from last year’s total of NAf. 16,617,399. The difference is NAf. 109,920. This budget post is not projected, as in the past, to bring any funds into the coffers of Government.
The Ministry of General Affairs has a budget allocation of NAf. 74,275,917 for 2016, decreased from NAf. 77,846,250 in 2015. The reduction is NAf. 3,570,333. This Ministry is expected to generate NAf. 4,017,000 in revenue.
The budget of the Ministry of Finance has increased by NAf. 3,266,891 from the allotted amount of NAf. 42,117,760 last year. The current allotment stands at NAf 45,384,651. Its revenue generation for this year is tagged at NAf. 363,779,000.
The Ministry of Justice has the biggest increase in the draft budget. The allocation for this year stands at NAf. 72,752,923, up from NAf. 66,222,399 from 2015. The increase stands at NAf. 6,530,524. However, in spite of the increase the allocation is still NAf. 1,402,413 below the 2014 figure. The income this Ministry will generate stands at NAf. 16,459,000.
The budget of the Ministry of Education, Culture, Youth and Sports has been reduced by NAf. 2,820,997 bringing the 2016 amount allocated to NAf. 119,425,113. The previous year’s figure was NAf. 122,246,110. This Ministry will bring in an income of NAf. 118,000 generated from repayment of study financing loans (NAf. 40,000) and miscellaneous income (NAf. 78,000).
The Ministry of Public Health, Social Development and Labour has had its budget cut by NAf. 5,413,798 putting its 2016 allocation at NAf. 52,184,937. That amount is down from NAf 57,598,725 in 2015. This Ministry has seen a steady decrease of its allocations since 2014 when its budget allocation stood at NAf. 61,562,877. This Ministry will see an income of NAf. 11,129,941.
The Ministry of Tourism, Economic Affairs, Transport and Telecommunication has the smallest allotment in the budget. Budgeted for the Ministry is NAf. 23,990,078, a decrease from last year of NAf. 4,076,062. This Ministry will bring in the lion’s share of income to Government’s coffers: NAf. 55,623,000, an increase of NAf. 9,913,000 over 2015.
The Ministry of Public Housing, Spatial Planning, Environment and Infrastructure VROMI has a slight increase in its budget allocation – NAf. 95,636, putting its total for this year at NAf 34,380,842. This Ministry will also increase its revenues. A total of NAf. 8,076,000 is expected in revenues, an increase of NAf. 2,252,200 over 2015.
