PROJECTED ECONOMIC PERFORMANCE FOR 2019

2019 BUDGET THEME - 'AUSTERITY FOR PROSPERITY'

The 2019 Budget Thrust is macro-fiscal stabilisation and laying a solid foundation for attaining the triple 'S' growth - strong, sustainable and shared. 

  • Gross Domestic Product growth in 2019 at about 3.1%, driven by Mining (7.5%), Distribution, Hotels and Restaurants at (5%), Transport and Communication (4%) and Agriculture (3%);
  • In 2019, inflationary pressures are expected to stabilise;.
  • Total revenues for 2019 are projected at US$6.6 billion of which:-
    • Tax revenue amounting US$6.04 billion;
    • Non-tax revenues of US$162 million; and
    • Retentions of US$400 million.
  • Total expenditures for 2019 are projected at US$8.16 billion of which:-
  • Employment Costs US$4.05 billion;
  • Capital expenditure US$2.02 billion 6.4% GDP; and
  • Budget deficit of US$1.57 billion or 5% of GDP