National Budget Slashed by Over $2 Billion | News | CVMTV

The government is making adjustments to its budget for the current fiscal year, with a proposed reduction of 2.5 billion dollars compared to the initial September proposal. Finance Minister Dr. Nigel Clarke presented the fourth supplementary package for 2023/2024 in Parliament, citing a revenue shortfall and costly undershoots on key projects as reasons for the revisions. With less than 10 weeks remaining in the fiscal year, the government is now suggesting a revised budget that is 2.5 billion dollars less than the initial proposal from September. During the second sitting of the Lower House for the new year on Tuesday, Finance Minister Dr. Nigel Clarke tabled the fourth supplementary package for 2023/2024 in Parliament. The latest expenditure brings the annual budget down to 1 trillion ninety-one point eight billion dollars. Dr. Clarke provided a breakdown to explain the adjustments in the budget. Watch the report: _____ We're on the scene, bringing you the latest, keeping you up to date on News, Entertainment, Business & Sports! Constantly working to enhance your viewing experience, telling compelling, diverse and engaging stories. ???? Verified and Delivered, News You Can Depend On. ???? Drama, Music, Lifestyle! Watch It All On E-Live Unplugged