Page 3 - THE 2024-25 MID-YEAR BUDGET REVIEW STATEMENT
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endogenous and exogenous shocks. The 2024-25 Mid-year
financial plan, therefore, has been developed in line with His
Excellency the President’s State of the Nation Address
delivered in this House on Friday, 9th February 2024 titled
“Taking Stock and Advantage of Our Progress in Achieving
Economic Recovery and Resilience”, as well as the theme of
the 2024-25 Budget Statement titled “From Economic
Recovery to Resilience through Accelerating Production and
Enhancing the Legal and Regulatory Environment to Protect
the Economy” which was delivered in this August House on
Friday, 23rd February 2024.
4. Madam Speaker, the 2024-25 revised budget has also
considered the National Address Statement delivered by His
Excellency the President last Wednesday, 27th November
2024. Therefore, to manage the fiscal deficit there will be
fiscal tightening measures that will shortly be announced
through a Government circular. Let me mention from the
onset Madam Speaker that this Midyear Budget is in itself an
austerity budget. As such, considering the macroeconomic
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