The current balance projects a surplus of $6,741 million, a decrease of $3,537 million or 34% over revised 2017. After capital receipts of $201,860 million and expenditure of $188,380 million, the plan projects an overall deficit of $54,515 million compared to a deficit of $42,444 million in 2017, 39% of which is expected to be financed by borrowings from external sources and 61% from domestic sources. Current revenue is projected to increase by $9 billion but this is offset by an increase in current expenditure of $12.3 billion. Of the current expenditure, personal emoluments account for approximately 31.3%. Debt service as a percentage of current revenue is projected at 9.4% in 2018, up from 7.9% in 2017.
The main elements of the 2018 Plan are:
Total current revenues are projected to increase by $9,187 million to $201,860 million or by 4.8%. Of this, the Guyana Revenue Authority is expected to account for revenues of $181,371 million or 90% of total revenue, an increase of $12,289 million or 7.3% when compared to 2017.
