Govt spending exceeds revenue for seven months

664606871341_9087792450148Government ended the first seven months of this year spending slightly more than revenue mobilized.

Latest figures covering fiscal operation from January to August shows that it missed out slightly on the expenditure target.

According to the figures, government ended first seven months of this year, spending almost GHC1 billion more than the GHC23.7 billion projected.

The excess spending were influenced by overruns in capital expenditure.

For instance for the month of August, government spent GHC4.2 billion, as against a target of GHC2.9 billion.

The figures however show that government managed to keep spending within its expenditure limits in most of the areas with the exception of capital expenditure.

Government is hoping to end 2015 with an expenditure target of GHC37 billion, according to its revised budgets.

However with the latest fiscal numbers – which shows that it spent GHC25 billion as at August this year – it is not clear whether government will end this year with another high deficit or not.

On the revenue side there was a lot to smile about, as government ended the month of August getting a little over GHC1 billion more than the GHC19 billion targeted.

source: myjoyonline.com

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