October 2, 2020
Government Operations Results for August 2020
For the period of April to August 2020, the GOJ reported Total Revenues & Grants of $200.06 billion, $5.81 billion more than the Government’s projection. This represented a decrease of approximately 20.2% relative to the $250.63 billion recorded for the corresponding period in 2019. ‘Tax Revenue’ outperformed projections during the review period, while ‘Grants’ and ‘Non-Tax Revenue’ underperformed projections during the period. ‘Tax Revenue’ amounted to $179.74 billion, $8.09 billion more than budgeted. ‘Non-tax Revenue’ of $19.37 billion was reported, $770 million less than budgeted. ‘Grants’ amounted to $941.3 million during the review period and underperformed the budget by $1.52 billion. Notably, no budgeted amount was booked for ‘Bauxite Levy’ and ‘Capital Revenue’; however, ‘Capital Revenue’ closed the period with a provisional amount of $10.60 million.
Expenditures
Total Expenditure for the period April to August 2020 amounted to $271.05 billion, $662.70 million or 0.2% less than the budgeted amount of $271.71 billion. Recurrent expenditure which totalled $251.12 billion, accounted for 92.65% of overall expenditures. Relative to projections, recurrent expenditure was $2.35 billion, 0.9% less than budgeted. Of the recurrent expenditure categories for the review period, the categories above the budgeted amount were ‘Programmes’ and ‘Wages and Salaries’. ‘Programmes’ amounted to $104.76 billion and was $276 million or 0.3% more than budgeted while ‘Wages and Salaries’ totalled $85.82 billion, 0.1% above the budgeted amount of $85.74 billion. ‘Compensation of Employees’ amounted to $91.68 billion which was $237.30 million or 0.3% less than budgeted. Additionally, ‘Employee Contribution’ totalled $5.86 billion, 5.1% less than the budgeted amount of $6.17 billion.
The ‘Fiscal Deficit’ was $70.99 billion, relative to a ‘Projected Deficit’ of $77.47 billion. Additionally, the primary deficit balance for the period amounted to $16.31 billion, 20% less than budgeted.
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