The proposed budget for 2023 is not different from the last five years, featuring massive recurrent expenditures, and yet fails to reach the US$1 billion mark that has been envisioned by the government and less than the fiscal year 2022 budget. The proposed budget also allocated US$91.6 million or 11.8 percent of total budget for public debt servicing, which includes interest and principal payments to domestic and external creditors. US$2.6 million is allocated for national priority supports (including the national teams and county sports meet) and youth programs. Non-tax revenue also comprises: US$95.3 million property income tax; US$19.6 million administrative fees and US$0.341 million fines, penalty and forfeits. The Weah administration’s proposed budget, which is submitted behind schedule, comes as the macroeconomic outlook for the country looks strong.

Source: Daily Observer December 06, 2022 19:50 UTC