By Sue-Ann Wayow
EDUCATION has once again received the biggest chunk of the budgetary pie.
Finance Minister Colm Imbert, during his Budget presentation in Parliament on Monday, disclosed that Education and Training received $7.453 billion.
Last year, Education and Training received $6.886 billion.
A new allocation – Social Grants has been added for this year’s budget.
The Tobago House of Assembly (THA) received an allocation of $2.5 billion representing 4.3% of the $57.6 billion budget, Imbert stated.
The Budget is pegged on an oil price of US$92.50 per barrel and natural gas price of US$6 per MMBtu.
The total revenue is expected to be $56.175 billion and expenditure at $57.685 billion.
The major fiscal 2023 allocations will be:
- Education and Training – $7.453 billion;
- Health – $6.892 billion;
- National Security – $5.798 billion;
- Social Grants – $5.453 billion;
- Works and Transport – $3.748 billion;
- Public Utilities – $2.823 billion;
- Rural Development and Local Government – $1.887 billion;
- Agriculture – $1.330 billion; and
- Housing – $0.974 billion.
