BIG DREAMS BUDGET?
Financing needs are expected to be sourced from disbursements from loans, treasury bills and bonds. The Total Grants and Revenue for 2017-2018 is expected to equate to $1.158 billion.
Recurrent revenue is also expected to increase by 2.1 percent or $22.1million, due to enhanced revenue measures, more efficient tax collections and better performance of the Citizenship by Investment Programme. The largest contributor to recurrent revenue will be Value Added Tax at 28% closely followed by Income Tax at 25%. The amount allocated for wages and salaries for the upcoming fiscal year is expected to increase by 2.8 percent compared to the previous year.
The government’s capital expenditure reflects its intentions to focus on growing the economy and investing in
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Government ministers and members of the opposition dissect the budgetary allocations announced this week.