Cabinet nod for Appropriation Bill | Daily News

Cabinet nod for Appropriation Bill

The Appropriation Bill yesterday received Cabinet approval to be presented to Parliament on February 5.

The Bill will focus on increasing the government revenue to 17 percent of the GDP. The recurrent expenditure is to remain 15 percent of the GDP and capital expenditure approximately 5.5 percent of the GDP.

It will also target maintaining the debt-to-GDP ratio below 70 percent of the GDP. The Finance Ministry in a statement stated, “Since government expenditure will be limited in 2019, the Ministries have been instructed to limit their expenditure proposals to projects with active plans,” the statement added.

The Finance and Mass Media Ministry said they will strive to maintain the increase in government revenue, which had shown growth since 2015.

In 2015, the government revenue as a percentage of GDP was 13.3 percent, and it went up to 14.2 percent in 2016 and 13.8 percent in 2017.

 


 

Add new comment