Finance Act 1996

Being an Act to fix the financial ceilings to be used in the preparation of the National Budget for the financial year commencing I January 1997,

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In the National Budget for 1997 the amount to be appropriated in respect of each of the items shown in Column 1 of the following table shall not exceed the amount shown in Column 2 opposite:-

COLUMN 1		TABLE	COLUMN 2
(a) Recurrent Budget			K million
	(i) National Departments:
	Salaries and wages		361.3
	Goods and other services		379.3
		Sub. total	740.6
	(ii) Provincial Governments (including Interim Provincial Governments) – Grants
	Salaries and wages		268.4
	Goods and other services		78.7
		Sub. total	347.1

	(iii) Statutory Authorities - Grants		109.5

	(iv) Debt Service
	Interest		328.6
	Amortisation/Loan Repayments		226.0

		Sub-total	554.6
Total Recurrent Budget			1,751.81
(b) Development Budget
National Departments and Statutory Authorities Public Investment Projects:-

	(i) Australian grant aid projects		167.7
	(ii) Other Projects		200.0
	(iii) Provincial Government (including Interim Provincial Governments)		240.5

Total Development Budget			608
Total amounts – Recurrent and Development Budgets			2,360.0

The Minister responsible for presenting the National Budget shall present to the Parliament a detailed National Budget which shall not exceed in amounts the amounts as specified in the Table in Section 1.

I hereby certify that the above is a fair print of the Finance Act 1996 which has been made by the National Parliament.

I hereby certify that the Finance Act 1996 was made by the National Parliament on 2 October 1996.

Papua New Guinea Sessional Legislation

Finance Act 1996