January 4, 2020
Government Operations Results for November 2020
For the period of April to November 2020, the GOJ reported Total Revenues & Grants of $339.84 billion, $1.07 billion more than the Government’s projection. This represented a decrease of approximately 16.1% relative to the $404.96 billion recorded for the corresponding period in 2019. ‘Tax Revenue’ and ‘Grants’ outperformed projections during the review period. ‘Tax Revenue’ amounted to $298.40 billion, $756.2 million more than budgeted. ‘Grants’ amounted to $3.66 billion during the review period and outperformed the budget by $448.3 million. ‘Non-tax Revenue’ of $37.76 billion was reported, $130.1 million less than budgeted. Notably, no budgeted amount was booked for ‘Bauxite Levy’. ‘Capital Revenue’ closed the period with a provisional amount of $22.10 million, corresponding with the budgeted amount.
Expenditures
Total Expenditure for the period April to November 2020 amounted to $416.32 billion, $3.64 billion less than the budgeted amount of $419.96 billion. Recurrent expenditure which totalled $385.12 billion, accounted for 92.50% of overall expenditures. Of the recurrent expenditure categories for the review period, the categories above the budgeted amount were ‘Wages and Salaries’ and ‘Interest’. Wages and Salaries amounted to $138.57 billion and was $241.60 million or 0.2% more than budgeted while ‘Interest’ totalled $82.05 billion, 1.7% above the budgeted amount of $80.66 billion. Relative to projections, ‘Programmes’ totalled $154.95 billion, 2.5% less than budgeted. Additionally, ‘Employee Contribution’ totalled $9.56 billion, 2.5% less than the budgeted amount of $9.80 billion.
The ‘Fiscal Deficit’ was $76.49 billion, relative to a ‘Projected Deficit’ of $81.20 billion. Additionally, the primary surplus balance for the period amounted to $5.56 billion, relative to the budgeted primary deficit of $545.00 million.
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