The Tribune

By RASHAD ROLLE

Tribune Staff Reporter

rrolle@tribunemedia.net

A REVIEW of the spending estimates for the 2015/2016 budget reveals that 24 government departments and ministries will receive allocation increases in the new fiscal year while 29 will have their allocations reduced.

According to the figures, the Treasury Department will receive the largest increase of $427,022,249, bringing its total to $483,344,477, up from the $56,327,477 that was allocated in the previous fiscal year.

This increase is largely because of $266,361,023 that has been allocated to pay for interest expenses and another $152,184,988 allocated to repay public debt.

The department will also receive nearly eight million in additional funding to cover rent, communication and utility expenses.

In addition, the Ministry of Finance will see an allocation increase of $86,505,393, bringing its total to $132,216,219, up from last year’s $45,710,826. This increase includes $13,000,000 for tax reform, a line item that was not included in the last budget. It also includes $5,350,000 for the ministry to prepare for the Inter-American Development Bank (IDB) 2016 Annual Meeting.

This represents a sharp increase from the $650,000 allocated for this purpose in the previous fiscal year.

The Ministry of Finance will also receive an allocation of nearly $3m more than it received last year for the Bahamas Development Bank. It will also receive an additional $6m for the purpose of “acquisition, construction and improvement of capital assets” and another $500,000 for closed circuit television and $5.5m for small and medium size business support.

The ministry will see a considerable rise to its rent, communication and utilities funding as well, gaining an additional $25,018,016 for this purpose. An additional $29,251,211 for personal emoluments – which will include an increase in the amount of money allocated for permanent/pensionable positions and overtime – will be gained as well.

As reported previously, $20m has also been allocated to the Finance Ministry for special employment projects, which Prime Minister Perry Christie said during his budget communication on Wednesday will be directed towards helping to reduce the high youth unemployment rate.

For capital development purposes, the Ministry of Finance will receive a considerable reduction in its allocation, coming down to $63,100,000 after receiving $120,800,000 in the previous fiscal year.

The Ministry of Works and Urban Development will receive a much larger allocation this year, bringing it up to $75,357,499 from last year’s $38,234,469. This is an increase of $37,123,030. This increase largely represents an additional allocation of $14,850,000 toward Bahamasair Holdings Ltd and $24 million toward the Water and Sewerage Corporation development projects.

The Ministry of Education, Science and Technology will receive an increase of $12,652,667, bringing it to a total of $80,922,442, up from the previous year’s allocation of $68,269,775.

The Department of Education will also receive an increase of $7,974,296, bringing it to $182,909,004, up from last year’s $174,934,708. The increase includes an additional allocation of more than $2m towards a National Lunch Programme, a new line item.

The Ministry of Youth, Sports and Culture will receive an increase of $15,481,351, bringing its allocation up to $29,104,826 from the $13,623,475 it received in the previous year. Much of this increase represents the money allocated for the IAAF World Relay Games, the Clifton Heritage Authority, the National Sports Authority and other associations and bodies.

The Ministry of Agriculture, Marine Resources and Local Government will also receive an increase. Its allocation will rise to $18,305,085, up from $5,273,408.

The increase is largely owing to additional funding under the purpose of “grants, fixed charges and special financial transactions.” This includes an additional allocation of $7m for the Bahamas Agriculture & Marine Science Institute and $5,940,000 for the Bahamas Agricultural and Industrial Corporation.

The Ministry of Health will also receive an increase of $59,581,201; up to $274,093,702 following the $214,512,501 it received previously. On Wednesday, Prime Minister Perry Christie told the House of Assembly the $60m would be used to prepare the health sector for National Health Insurance (NH).

A line item in the ministry’s budget head shows that $260,320,960 will be allocated for National Health Insurance (NHI), however this figure appears to be an amalgamation of funds budgeted for the Public Hospital’s Authority.

The new budget document does not contain a breakdown of the salaries of officers within various ministries and departments, a fact that drew criticism last year.