Expenditure

It needs to be clarified here that belt-tightening, cutting wasteful expenditure, or reducing inefficient expenditure is not austerity in the sense of economics literature, by which it means cutting down development expenditure.

Irregular expenditure is defined in the Public Finance Management Act (PFMA) as “expenditure other than unauthorised expenditure, incurred in contravention of or that is not in accordance with a requirement of any applicable legislation”.

As a result of this, he said, monies for other expenditure items, including goods and services, comprising most of the Free Senior High School- related expenditure, capital expenditure and earmarked /statutory transfers, had to be borrowed.

Some of the key highlights include the zero unauthorised expenditure, zero fruitless and wasteful expenditure, 42 per cent reduction in irregular expenditure and clean audit on performance information.

Health Public expenditure was at 7.3% of all government expenditure in 2006, citation whereas private expenditure was at 0.6% of the GDP.

Delta state spending over N215bn on recurrent expenditure or Bayelsa spending more on recurrent expenditure than Kano State does not look good for fiscal sustainability considering the volatility of oil prices.

Difference Between Capital and Revenue Expenditures: Long-term investments are broadly called capital expenditure while short-term investments are referred to as revenue expenditure.

He asked the government to continue with efforts to enhance domestic revenue mobilisation and streamline primary expenditure, by improving tax administration, strengthening expenditure control and management of arrears.

During the period from January to June, total social protection expenditure amounted to ZW$902,2 million against targeted expenditure of ZW$1,253 billion, according to Ncube.

In a broad sense, with tax cuts, increase in revenue expenditure is assumed to precede and lead to increase in capital expenditure.

It approved N4.1tn for capital expenditure, N5.6tn for recurrent expenditure and N3.3tn for debt servicing.

Published Reserve Bank of Malawi (RBM) figures on Thursday indicated that Treasury raised K89.4 billion revenue in February while expenditure stood at K151.3 billion total expenditure.

According to him, the breakdown of the budget shows recurrent expenditure of N1.8 billion, while the capital expenditure is N612 million.

He regretted that since the advent of democracy in Nigeria, the recurrent expenditure had been outweighing the capital expenditure.

Next week the Scottish Executive is due to publish the annual Government Expenditure and Revenue in Scotland analysis, which charts expenditure north of the border.

Revenue expenditure jumped almost 14% and capital expenditure by 15.3% in the April-September period from a year before.

The budget has N85 billion recurrent expenditure and N92 billion capital expenditure.

The current expenditure forms more than 80 percent of the domestic revenue, meeting the constitutional mandate to cover the entire current expenditure from domestic revenue.

Having slashed capital expenditure and having slashed 2,500 jobs from the public service, how is it that the Minnis administration does not have either revenue or expenditure on target?

In the proposed Bill, one hundred and fifty seven billion naira is for the recurrent expenditure, while two hundred and twenty three billion naira was set aside for capital expenditure.