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Budget to return to first surplus in eight years

Friday, September 23, 2022 | 2090 Views |

Balancing act: Finance Minister, Peggy Serame expects headwinds to hit the economy in the short term, followed by fiscal stability PIC: MORERI SEJAKGOMO

Ministry of Finance technocrats expect the budget to return a P355 million surplus in the 2024–25 financial year, the first in eight years and a break from a series of deficits that ran down savings and increased government debt.

Ministry of Finance technocrats expect the budget to return a P355 million surplus in the 2024–25 financial year, the first in eight years and a break from a series of deficits that ran down savings and increased government debt.

According to the Budget Strategy Paper released recently, the fiscus is expected to incur a P7.7 billion deficit in the current fiscal year, followed by a narrower P163 million shortfall in 2023–24.

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Budget to return to first surplus in eight years

Ministry of Finance technocrats expect the budget to return a P355 million surplus in the 2024–25 financial year, the first in eight years and a break from a series of deficits that ran down savings and increased government debt.

Front Page

'Ben 10' murder accused for psychiatric evaluation

Fearfokol: Khan’s militant

Rollers bolster committee, ropes in Pabalinga

Defence challenges 'confession statements' in murder case

Court temporarily halts Mzwinila assets seizure

Access Bank Invests in student wellness at Bokamoso JSS

Clubs to share matchday costs with BFL

Ramogapi & Co should clear the Bonno confusion