Page 16 - THE 2024-25 MID-YEAR BUDGET REVIEW STATEMENT

Performance of Recurrent Expenditure

27. Madam Speaker, the midyear outturn for recurrent

expenditure amounted to K2.24 trillion against a projection of

K2.23 trillion, representing a variation of 0.2 percent. This

entails that the midyear actual performance is consistent

with aggregate projection. Specifically, there was a budget

overrun of 24.9 percent on compensation of employees and

under expenditures by 13.6 percent on use of goods and

services; 11.2 percent on grants to other General

Government Units; and 0.4 percent on public debt interest

payments.

Performance of Development Expenditure

28. Madam Speaker, during the first half of the 2024-25 fiscal

year, development expenditure amounted to K438.8 billion,

of which K143.6 billion is domestically financed and K295.2

billion is foreign financed. This represents under expenditures

of 25.1 percent and 57.4 percent on domestically and foreign

financed components, respectively. The underperformance

is as a result of slow implementation emanating from delayed

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