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The Bruce Golding administration cut its expenditure budget by more than $3 billion for the first quarter of the 2008/2009 Financial Year.
Information released by the Ministry of Finance shows that between April and June, the Government spent $76.2 billion instead of the $79.5 billion it had projected.
Recurrent expenses were cut by $1.1 billion due in part to a decline in interest charges on some of the country's debt.
Capital expenditure was down $1.3 billion.
With revenue and grants generally in line with projection at $67 billion the fiscal deficit was also smaller than expected.
The figure was $8.6 billion instead of $12.7 billion.
State of economy report coming
Meanwhile Minister without Portfolio in the Ministry of Finance Senator Don Wehby said the Government will present its first quarter report on the state of the economy by next week.
Senator Wehby said the results are good as far as revenue and expenditure are concerned.
He said the only area of concern is oil and its impact on the cost of living.
Information released by the Ministry of Finance shows that between April and June, the Government spent $76.2 billion instead of the $79.5 billion it had projected.
Recurrent expenses were cut by $1.1 billion due in part to a decline in interest charges on some of the country's debt.
Capital expenditure was down $1.3 billion.
With revenue and grants generally in line with projection at $67 billion the fiscal deficit was also smaller than expected.
The figure was $8.6 billion instead of $12.7 billion.
State of economy report coming
Meanwhile Minister without Portfolio in the Ministry of Finance Senator Don Wehby said the Government will present its first quarter report on the state of the economy by next week.
Senator Wehby said the results are good as far as revenue and expenditure are concerned.
He said the only area of concern is oil and its impact on the cost of living.
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