BIDPA Briefing 2004/05 Budget Briefing

"This special BIDPA Briefing takes a historical look at government budget performance, highlighting the changing fiscal outlook and its implications for future macroeconomic policies. The first part of the Briefing considers how revenue prospects are becoming less buoyant at the same time that serious pressures are emerging for large increases in public expenditures for programmes such as combating and coping with HIV/AIDS. The “crossover” into fiscal deficit territory will necessitate difficult public choices and more stringent budgetary practices, along with revenue enhancement measures. The second part of the Briefing looks at the functional classification of the budget, highlighting the reduced shares going to economic services. The review raises concerns about the implications this may have for achieving National Development Plan and Vision 2016 objectives for sustainable economic diversification, international competitiveness, employment creation and poverty reduction."