September 01, 2021
Government Operations Results for July 2021
For the period of April to July 2021, the GOJ reported Total Revenues & Grants of $225.53 billion, $17.26 billion more than the Government’s projection. This represented an increase of approximately 39% relative to the $161.75 billion recorded for the corresponding period in 2020. ‘Tax Revenue’, ‘Capital Revenue’ and ‘Grants’ outperformed projections during the review period. ‘Tax Revenue’ amounted to $176.67 billion, $17.11 billion more than budgeted. ‘Capital Revenue’ amounted to $778.20 million during the review period, while ‘Grants’ closed the period at $3.08 billion, $1.71 billion more than the budgeted amount. ‘Non-tax Revenue’ of $45.01 billion was reported, $2.33 billion less than budgeted. Notably, no budgeted amount was booked for ‘Bauxite Levy’ and ‘Capital Revenue’.
Expenditures
Total Expenditure for the period April to July 2021 amounted to $229.84 billion, $7.33 billion less than the budgeted amount of $237.17 billion. Recurrent expenditure which totalled $209.05 billion, accounted for 90.95% of overall expenditures. Of the recurrent expenditure categories for the review period, the categories above the budgeted amount were ‘Employee Contribution’ and ‘Interest’. ‘Employee Contribution’ amounted to $7.42 billion which was $538.10 million or 7.8% more than budgeted. ‘Interest’ totalled $42.52 billion, 4.4% above the budgeted amount of $40.72 billion. Conversely ‘Compensation of Employees’ totalled $78.44 billion, $946.50 million below the budgeted amount of $79.39 billion. ‘Programmes’ totalled $88.08 billion, 6.5% less than budgeted. Additionally, ‘Wages & Salaries’ totalled $71.02 billion, 2.0% less than the budgeted amount of $72.50 billion.
The ‘Fiscal Deficit’ was $4.31 billion, relative to a ‘Projected Deficit’ of $28.90 billion. Additionally, the ‘Primary Surplus Balance’ for the period amounted to $38.21 billion, relative to the ‘Budgeted Primary Surplus Balance’ of $11.82 billion.
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