Information Minister Daryl Vaz told The Gleaner last evening that while the broad parameter of the estimate had been agreed on, the ministers were still working on the nuts and bolts.

Vaz said the Cabinet needed to conclude its deliberations on the revised estimates so that it could be sent to the printers today.

On Wednesday, sources at the finance ministry told The Gleaner that the technocrats had just completed their work and it was left to the Cabinet to sign off on the estimates.

Cuts

Golding has already indicated that about 20 per cent would be cut from the programmes on the recurrent side of the Budget, while between 10 per cent and 15 per cent would be cut from the capital side.

In April, Finance Minister Audley Shaw tabled a $555-billion Budget for the 2009-2010 fiscal year. However, a sharp fall-off in revenue, blamed on the worldwide economic recession, forced the Golding administration to revise its spending plans.

Former minister without portfolio in the Ministry of Finance and the Public Service Don Wehby, as well as Opposition Spokesman on Finance, Dr Omar Davies, have said that the Budget passed by the Parliament must be credible in order for the country to benefit from a $1.2-billion loan facility being requested from the International Monetary Fund.

arthur.hall@gleanerjm.com