The 2017/2018 National Budget has now been signed into law. The total appropriation stands at $563m. Domestic revenue is estimated at 89% ($501.7m), comprising mostly tax revenue (78% or $393.6m) and non-tax revenue (19% or $94.7m) with the remainder being contingent revenue. Grants comprise only 9.5% of the $563m envelope ($54m).
The expenditure side is dominated as always by recurrent expenditure ($508.2m or 90%) of the national budget. Recurrent expenditure is broken into Compensation of Employees or personnel cost; goods and services necessary for administrative operations; grants and subsidies provided to private sector institutions in the education, health and other sectors; debt payments to external and domestic borrowers; etc. Compensation of employees ($291.4m) amounts to 58% of recurrent expenditure or 51.6% of the national budget.
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