Budget Deficit Down 7.07% in April 2000
The budget registered a primary deficit of $23.81m in May, as the deficit/spending ratio decreased to 46.28% from 56.73% in April 2000. The lower ratio was due to a 24.7% decrease in the deficit resulting from a 14.5 % increase in revenues, compared to a decrease of 7.76% in expenditures.
For the first five months of 2000, government revenue and expenditures equalled $1,213.7m and $2,517.2m (of which $1,136.56m was in debt servicing) respectively, resulting in a deficit of $1,303.49m. For 1999, the equivalent figures were $1,151.18m in revenue and $2,041.94m in spending ($1,006.32m accounted for by interest payment on the debt), and a deficit of $890.76m. The deficit spending ratio in the first 5 months of 2000 equalled 51.78%, above the government's target of 36% for the whole of 2000 and still higher than the 43.62% recorded over the same period in 1999.
© 2000 Mena Report (www.menareport.com)