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HomeEconomyCentral Bank Fiscal report says…Wage Bill Continues to Increase Govt Expenditure

Central Bank Fiscal report says…Wage Bill Continues to Increase Govt Expenditure

BY Our Economic Reporter

During the quarter ending September 2021, total amount expanded was Le 2.9 billion (Le 2,965,039 million) and this consist of total operating expenses finance costs, arrears payments and loan amortization.

According to the quarterly fiscal report of the Central Government, total operating expenses amounted to Le2.4 billion (le 2,411,999 million), which comprised a total amount of Le 1.012 billion (Le 012,065 million) spent on wages, salaries and employees benefits including wages arrears of Le 4,885 million. Le 743,845 million was spent on Non-salary, Non-Interest Recurrent Expenditure which is inclusive of transfers made to local councils. Transfers to agencies and domestic development expenditure amounted to Le 152,239 million and Le 453,649 million respectively. Finance cost comprises of domestic and foreign interest which amounted to Le 289,203 million whilst domestic arrears amounted to Le 139,964 million. The project grant receipts for the period under review was Le 8,927 million:

Agencies generated revenue amounted to Le 4,507 million thus; giving total revenue from projects and sub-vented agencies to Le 13,434 million.

The domestic revenues for quarter 3, 2021, consists of income tax revenue which contributed Le 607,867 million or 38% of the total domestic revenue, customs and excise (C&E) Receipts was Le 222,515 million or 14%, goods and services tax (GST) amounted to Le 294,620 million or 18% Mineral Revenues Le 95,615 million or 6% of total domestic revenue. Furthermore, other departmental receipt (including projects and sub vented agencies) totaled Le 112,743 million or 7% of domestic revenue. In addition, petroleum project excise Duty, road fund, treasury single account (TSA) revenue and privatization receipts represents 6% 3% 7% and 1% respectively. ZIJ/15/11/2021

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