The current balance projects a surplus of $19,017 million, an increase of $1,408 million or 8% over revised 2018. Current revenue of $238,322 million represents an increase of $21,452 million over the latest estimate for 2018 of $216,871 million (9.9%).
Budgeted current expenditure is $213,101 million, an increase of $19,690 million (10.2%) while Interest Expenditure is budgeted at $6,204 million, an increase of $353 million (6%) giving a Current Balance of $19,017 million compared with latest estimates for 2018 of $17,609 million.
Capital Revenue and Grants are budgeted at $10,240 million compared with $11,933 million for 2018. Budgeted Capital Expenditure is $69,279 million which is some $10,263 million over 2018. After Debt Repayment of $12,135 million, an overall deficit of $52,156 million is projected, compared with a deficit of $41,296 million in 2018, 39% of which is expected to be financed by borrowings from external sources and 61% from domestic sources. Of the current expenditure, personal emoluments account for approximately 33%. Debt service as a percentage of current revenue is projected at 7.7% in 2019, down from 8.1% in 2018…..