New budget speech model hailed as sustainable

In their review paper BOPEU observes that the 2022/2023 budget speech projected a comparatively different fiscus position as has been the trend with the previous budgets.

A move for a larger proportion of the government spending to development expenditure usually paralleled with investment (development projects and maintenance of social and economic infrastructure) as opposed to the recurrent expenditure mostly paralleled with consumption [wages and salaries, grants and subventions to local authorities and State-Owned Enterprises (SOE’s)].