BUDGET BY THE NUMBERS

$2.65 Billion

2018/19 REVENUE ESTIMATE

In the budget, recurrent revenue represents 20% of GDP, an improvement in the revenue yield of $500 million. The VAT increase generates $400 million in new revenue. Other revenue measures combined provided the balance of the increase.

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$2.89 Billion

2018/19 EXPENDITURE ESTIMATE

In the Budget, 24 of the 53 sections saw reductions in their budget allocations. However, there was an increase in overall expenditure due to higher interest payments and the provisions made for addressing old bills and under-budgeted commitments.

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$237 Million

2018/19 PROJECTED DEFICIT

The $237 million deficit represents 1.8 per cent of GDP. This means the deficit will come in at the mandated fiscal responsibility target for FY2018/19. It will also be $73 million lower than the estimated deficit for Y2017/18.

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Details	2017/2018 ($MIL)	2018/2019 ($MIL)
Recurrent Revenue	2,150	2,649
Capital Revenue	2	2
Total Revenue	2,152	2,651
Recurrent Expenditure	2,243	2,589
Capital Expenditure	230	299
Total Expenditure	2,473	2,888
Fiscal Deficit	-321	-237

What's in the Budget for You?

Individuals and Families

VAT removed from grocery items in the breadbasket and prescription medication; cost savings returned to the pockets of the most vulnerable.

Young People

Free tuition to BTVI through scholarships for students. Free preschool vouchers for children to have a better head start. The Budget makes education more accessible than ever.

Family Island Communities

Money allocated to build and renovate Family Island airports, improving and expanding these vital ports of entry, while facilitating a greater flow of opportunity.

Small Businesses & Investors

Capital financing directly into the hands of entrepreneurs and small businesses. Accelerated access to free business training and advisory services.

The Nation as a Whole

Money to pay off old bills and restore the fiscal health of the Country. The Budget helps to preserve and improve the standard of living, grow the economy and create opportunities.

In our Manifesto, we vowed to practice fiscal discipline in the management of the affairs of the nation. We pledged to pursue a transformative socio-economic growth agenda to pull our country out of its economic and fiscal malaise. We deliver on these commitments in this budget."

ABOUT

The budget website is inspired by a worldwide movement towards citizens budgets. Presented by the Ministry of Finance, it is a visual, interactive and less-technical version of the annual budget that promotes accessibility, inclusion, transparency and accountability.