February 2, 2022
Government Operations Results for December 2021
For the period of April to December 2021, the GOJ reported Total Revenues & Grants of $492.22 billion, $1.23 billion less than the Government’s projection. This represented an increase of approximately 23.6% relative to the $398.26 billion recorded for the corresponding period in 2020. ‘Non-Tax Revenue’ and ‘Grants’ underperformed projections during the review period. ‘Non-Tax Revenue’ amounted to $67.92 billion during the review period, while ‘Grants’ closed the period at $5.22 billion, $546.2 million less than the budgeted amount. ‘Tax Revenue’ outperformed the budget to end at $416.06 billion, $190.9 million more than budgeted. ‘Capital Revenue’ of $875.8 million was reported which was the same as the budgeted amount. Notably, no budgeted amount was booked for ‘Bauxite Levy’.
Expenditures
Total Expenditure for the period April to December 2021 amounted to $501.25 billion, $9.34 billion less than the budgeted amount of $510.59 billion. Recurrent expenditure which totalled $466.35 billion, accounted for 93.04% of overall expenditures. Under the recurrent expenditure categories for the review period, the category above the budgeted amount was ‘Interest’. This totalled $91.85 billion, 1.8% above the budgeted amount of $90.23 billion. The categories below the budgeted amount included ‘Programmes’ which amounted to $193.51 billion which was $4.75 billion or 2.4% less than budgeted. Comparably, ‘Compensation of Employees’ totalled $180.99 billion, $2.92 billion below the budgeted amount of $183.92 billion. ‘Wages & Salaries’ totalled $166.30 billion, 1.6% less than budgeted. Additionally, ‘Employee Contribution’ totalled $14.70 billion, which was 1.7% less than the budgeted amount of $14.94 billion.
The ‘Fiscal Deficit’ was $9.02 billion, relative to a ‘Projected Deficit’ of $17.13 billion. Additionally, the ‘Primary Surplus Balance’ for the period amounted to $82.83 billion, relative to the ‘Budgeted Primary Surplus Balance’ of $73.10 billion.
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