Presentation to Department of Economics, UWI, Mona, Seminar, May 7, 2009

Recurrent Expenditure is

- rising as a share of total expenditure : the share of capital expenditure is falling;
- rising faster than revenue and grants.,   It has been as much as double revenue and grants, and currently is more than 50% greater
- Rising faster than GDP, and therefore the percentage with respect to the GDP is rising
–Interest payments, particularly on domestic debt is the largest and fastest rising component of recurrent expenditure

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