Deficit stands at Lm112.8m

Recurrent revenue in the first eight months of this year amounted to Lm469 million and made up 55.6 per cent of this year's budget forecast. This represents an increase of Lm27.4 million, or 6.2 per cent, on the same period last year, according to the...

Recurrent revenue in the first eight months of this year amounted to Lm469 million and made up 55.6 per cent of this year's budget forecast. This represents an increase of Lm27.4 million, or 6.2 per cent, on the same period last year, according to the National Statistics Office.

At the same time, total expenditure amounted to Lm581.8 million, an increase of Lm14.0 million over the Lm567.8 million expended last year.

The structural deficit amounted to Lm112.8 million, compared to a shortfall of Lm126.2 million reported for January - August 2003.

The government's expenditure for the first eight months of the year made up 62 per cent of this year's budgeted expenditure. The expenditure for the comparative period last year made up 67.2 per cent of the actual total expenditure for 2003.

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