Budget Highlights

Budget Highlights

The proposed total expenditure is M18.7 billion of which recurrent is M13.5 billion while capital is budget is M5.2 billion.

This year’s budget increased by 7 percent from last year’s.

Revenue target is estimated at M16 billion of which SACU revenue is M6.1 billion, tax revenue M7.6 billion and non-tax revenue M1.2 billion.

This year’s revenue target is M15.8 percent over last year’s.

Revenue and expenditure allocations will result in a fiscal deficit f M1.5 billion or 4.8 percent of GDP.

High deficit suggests that government should move quicky with fiscal consolidation.

Allocations

Ministry of Trade – M194.8 million. More focus put on improving private sector.

Small Businesses – M211.9 million mainly for revamping the informal sector.

Ministry of Tourism – M220.8 million.

Agriculture – M483.4 million.
Mining M36.2 million.
Water M892.3 million.
Energy M316.5 million – 10 000 households will be electrified in Leribe and Butha-Buthe.

Public Works M916 million.
Communications M120 million – local content to be bought for programs for both radio and television.

Education M2.4 billion – inspection in primary and secondary schools for curriculum relevancy.
Social Development M2.5 billion – old age pension increased from M500 to M700.

Development Plannnig M135.4 million.
Finance M1.4 billion.

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