Summary

Overall balances for January 2019 was surplus as Tax Revenue, notably Revenue from Import Duties and Airport Service Charge, increased significantly while Capital Expenditure was very low. However, the overall balances for February 2019 was deficit as the expenditure, was higher than the revenue received during that month.

Budget utilization

12.7% of the total Expenditure approved for 2019 was spent by the end of February 2019. Revenue and Grants realised till end of February 2019 was 18.2% of the total projected in the approved Budget 2019.

Revenue

Largest revenue in February 2018 and 2019 was from goods and service taxes collected from TGST and GGST. Other major revenues include Import Duties and Business and Property Tax

Expenditure

Salaries, Wages and Allowances make up the majority of spending for February 2019, followed by Losses and Write-offs, Pensions, Retirement benefits and Gratuities.

Expenditure by AGA

Till end of February 2019, the largest spending through MoF Special Budget was on Losses and Write-offs and capital contribution to SOEs. The highest expenditure by Ministry of Education was for Grants to private parties, such as issuing vouchers for stationery and expenditure on acquiring ICT hardware. Other major spending was from Ministry of Finance and Ministry of National Planning and Infrastructure for infrastructure project, Ministry of Housing and Ministry of Health and IGMH on medical consumables and NSPA for Social Safety net.