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$3.1bn revenue forecast for 2015

November 21, 2014 12:17 am

The government has projected a total revenue of $3.1 billion in 2015.

Total expenditure is projected at $3.3 billion.

Finance Minister Aiyaz Sayed Khaiyum says total deficit is $2139 million or about 2.5 per cent of GDP.

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“We would prefer no deficit of course but this is a healthy and sustainable level. Government debt currently stands at $4 billion equivalent to 49.8 percent GDP with a 2015 physical deficit and growth outlook, we expect to reduce total debt to 48.7 percent of GDP next year. Government’s operating expenditure stands at $1.9 billion, while a sum of $1.3 billion is appropriate for capital expenditure for 2015. The 30 percent increase in capital expenditure now brings government’s capital investment to 41 percent of total expenditure.”

Sayed Khaiyum made the announcement in the 2015 budget in Parliament this morning.

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