This week, we at Bourse review some of the highlights of the fiscal year 2020 (FY2020) budget, as presented by the Minister of Finance last week Monday. We also take a look at some of the main fiscal stimulus measures mentioned and the investor opportunities which might be on the horizon. FY2019 Revenues,
Expenditure Lower Revenues for FY 2019 were estimated to be $46.56B, roughly 2.0 per cent ($941M) lower than the mid-year review projection of $47.50B. Expenditure also came in below budget at $50.50B or 3.0 per cent ($1.57B) below the mid-year $52.07B forecast. Based on these estimates, the Government’s operations would have resulted in an overall deficit of $3.95B or 2.4 per cent of Gross Domestic Product (GDP) which has been estimated at $164.6B by the Ministry of Finance. Financing of the deficit would have taken the form of $1.52B in Net External Financing and $2.43B in Net Domestic Financing.