Page 18 - THE 2024-25 MID-YEAR BUDGET REVIEW STATEMENT

31. Madam Speaker, in the second half of the 2024-25

financial year, total revenue and grants are projected at

K2.90 trillion of which, K1.88 trillion is domestic revenue and

K1.02 trillion are grants. Total expenditure is projected at K3.36

trillion of which, K2.22 trillion is recurrent expenditure and

K1.15 trillion is development expenditure.

32. Madam Speaker, the recurrent expenditure of K2.22

trillion comprises K647.3 billion for wages and salaries; K811.3

billion for interest payments; K387.2 billion for use of goods

and services; K208.9 billion for grants to General Government

Units; and K144.5 billion for social benefits. Development

expenditure of K1.15 trillion comprises K1.02 trillion for foreign

financed projects and K130.5 billion for domestically

financed projects.

33. Madam Speaker, as a result of the developments in the

revenue and expenditure as highlighted above, the overall

balance for the second half of the financial year is a

projected deficit of K463.22 billion.

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