Freetown — Minister of Finance and Economic Development has predicted Sierra Leone's budget deficit to rise Le492.1 billion in 2011, up from a deficit of Le334.5 billion registered at the end of September this year.
Dr. Samura Kamara, who made the projection during his presentation of the 2011 budget to Parliament last Friday, said of that amount, Le271 billion or 53 percent of the total budget will be funded by foreign financing. He further announced that capital and development outlays will up over one-third thus driving deficit up to 5.7 percent of the GDP. Kamara however maintained that borrowing was under control.
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