Increase in recurrent revenue

Recurrent revenue till the end of last month amounted to Lm389.9 million and made up 41 per cent of this year's budget forecast, the National Statistics Office said yesterday.

Compared to the first six months of last year, this revenue represented an increase of Lm13.8 million, or 3.7 per cent.

The recurrent revenue for the same period last year amounted to Lm376.1 million, which accounted for 42 per cent of the actual final outturn.

At the same time, total expenditure, excluding sinking funds contributions and direct loan repayments, amounted to Lm463.9 million, a drop of Lm7 million, or 1.5 per cent. The total expenditure for the January to June period amounted to 46.1 per cent of the approved 2006 estimate.

Total expenditure for the same period last year made up 48.5 per cent of the actual total expenditure for the year.

The shortfall between recurrent revenue and total expenditure in the period under review amounted to Lm74 million this year, compared to a shortfall of Lm94.8 million a year ago.

Recurrent expenditure for the period under review makes up 47.7 per cent of the budgetary estimates for this year, while last year's figure corresponds to 47.9 per cent of the actual final outturn for that year.