Debt and public sector wages are to account for nearly 70 per cent of the $539.3 billion budget tabled on April 3, 2014 by Finance Minister Dr Peter Phillips. Some $233 billion, or 43 cents out of every dollar, in the 2014-2015 Estimates of Expenditure is to go towards servicing the debt, while $160 billion has been earmarked for the payment of wages.
The expenditure budget, which is $38.6 billion more than the $500.7 billion tabled last year, will see $404.65 billion used for recurrent expenditure, while $134.69 billion is to go towards capital spending.
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