Government plans to spend over 52.429 billion dollars in the next fiscal year.
This was announced by Minister of Finance, Colm Imbert, in the presentation of the national budget in the House of Representatives on Monday.
Minister Imbert said the ruling administration is projecting to collect over 43.3billion dollars in revenue.
Mr Imbert said the budget is pegged against the government’s assumptions of US$65 a barrel for oil for 2022 and US$3.75 for gas.
Mr Imbert Imbert said the fiscal deficit will be $9.096 billion or about 5.8 percent of gross domestic product.