Finance (No. 2) Act 1996

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1. Financial ceilings in preparation of National Budget for 1997.
2. Direction.
3. Repeal.

Being an Act to fix the financial ceilings to be used in the preparation of the National Budget for the financial year commencing 1 January 1997 and to repeal the Finance Act 1996,

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, wages and other entitlements		356.8
	Goods and other services		386.1
Sub. total			742.9
	(ii) Provincial Governments: (including Interim Provincial Governments) - Grants
	Salaries and wages		250.2
	Goods and other services		77.6
	Conditional Grants		240.5
Sub. total			568.3
	(iii) Statutory Authorities – Grants		120.3
	(iv) Debt Services:
	Interest		328.6
	Amortisation/Loan Repayments		226.0
Sub-total			554.6
Total Recurrent Budget			1,986.1
(b) Development Budget
	National Departments and Statutory Authorities
	(i) Australian grant aid projects		153.8
	(ii) Other projects		233.2
		Sub-total	387.0
	Provincial-Governments (including Interim Provincial Governments)
	(i) Australian Aid Projects		21.2
	(ii) Other porjects		13.0
		Sub-total	34.2

	Total Development Budget		421.2
	Total amounts - Recurrent-and Development Budgets		2,407.3

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 (No.2) Act 1996 which has been made by the National Parliament.

I hereby certify that the Finance (No.2) Act 1996 was made by the National Parliament on 20 November 1996.

Papua New Guinea Sessional Legislation

Finance (No. 2) Act 1996