The Ministry of Education sector is given the highest allocation in the 2023-2024 national Budge.

They have been allocated $845 million dollars.

The salaries and wages budget for the Ministry has been increased from $318.1 million to $322.6 million to cater for the funding for the more than 14,000 existing teachers and newly established 179 new teaching and non-teaching positions at the Ministry of Education.

$8.9 million is allocated for salary upgrade of teachers who have completed relevant qualifications to move to a higher band in line with the Teacher Remuneration Setting Policy.

Total government expenditure for the 2023/2024 budget is $4.3 billion with a projected revenue of $3.7 billion.

The fiscal deficit is set at $639 million, equivalent to 4.8 percent of GDP.

This is a major reduction in the deficit.

In the last four fiscal years, the average deficit has been 9 percent.

We will have more on the National Budget Announcement and reaction in our 6pm News Bulletin.