Government Operations Results for April 2020
For the period of April 2020, the GOJ reported Total Revenues & Grants of $36.77 billion, $3.70 million more than the Government’s projection. Furthermore, year over year, this represents a decrease of approximately 20.3% relative to the $46.11 billion recorded for the corresponding period in 2019. Tax Revenue’ amounted to $31.92 billion, $3.70 million more than budgeted. While, ‘Non-Tax Revenue’ of $4.49 billion was reported and ‘Grants’ amounted to $349.70 million during the review period. On the other hand, no provisional amount was booked for ‘Capital Revenues’ and ‘Bauxite Levy’ for the review period.
Expenditures
Total Expenditure for the period April 2020 amounted to $50.05 billion. Recurrent expenditure which totalled $47.38 billion, accounted for 94.66% of overall expenditures. Notably, ‘Programmes’ and ‘Compensation of Employees’ amounted to $16.81 billion and $19.47 billion, respectively. While, ‘Wages and Salaries’ and ‘Employee Contribution’ totalled $18.34 billion and $1.12 billion, respectively.
As a result of the decrease in Expenditures for the period April 2020, the ‘Fiscal Deficit’ was $13.28 billion, relative to fiscal deficit of $6.02 billion as at April 2019. Additionally, the primary deficit balance for the period amounted to $2.19 billion.
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
