Economics Governance

Budget Deficit stands at 130% of the Total Budget

The government has revealed that the budget estimates for the coming financial year face a deficit of 130%.

The minister of finance announced that they expect to find only negative 30% of the budget, which is the money lost through corruption, therefore leaving 100% deficit for the money to be spent in recurrent expenditure, servicing loans and development.

The government therefore plans to get an international loan that will be used to cover for the deficit of 100%.

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