Tobago gets fourth quarter allocation

For the last quarter, the THA did not get its full budgetary allocation on time.

At last Wednesday’s post Executive Council media briefing, Jack said previously, the country’s overdraft facility was close to its limit, which affected Central Government’s funding options. This situation, he said, has improved.

“I’m pleased to announce that we have received our fourth quarter releases from the Ministry of Finance and the funding for the fourth quarter, totalling $386.6 million, to fund activities both for recurrent expenditure and for the development programme expenditure,” Jack stated. The Secretary also gave an update on the island’s budget proposal, saying it was submitted ahead of the June 30 deadline.

The THA is requesting almost $5.4 billion for fiscal 2017, including $3.22 billion for recurrent expenditure, and $2 billion for development.