GOVERNMENT IS LOOKING to cut back on allocations to ministries and statutory boards in a bid to reduce its high level of expenditure in this area.
Prime Minister Freundel Stuart told the business community on Wednesday that transfers to state-owned and other entities along with debt service, wages and salaries represented “approximately 80 per cent of government’s vital expenditure on an annual basis”.
The impact this was having on the expenditure column of the balance sheet was causing Government much concern, the Prime Minister said last week.
He said that as Government was constrained to meet debt service expenditure, wages and salaries at this time, ongoing consideration was being given to reducing transfers to state-owned entities. (GC)
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