Page 4 - THE 2024-25 MID-YEAR BUDGET REVIEW STATEMENT

environment that we are in, we need to do things differently

to allow our economy recover by sacrificing today for a

better tomorrow.

5. In my statement today, Madam Speaker, I will start by

presenting the macroeconomic developments that have

ensued half way through the implementation of the 2024-25

Budget. I will then report on the performance of revenue and

expenditure, and how the budget deficit has been financed.

Further, I will lay out proposed revisions to the 2024-25

National Budget. Towards the end, I will outline the reforms

that the current administration is implementing. Then finally I

will present revenue enhancement measures that

Government will implement.

MACROECONOMIC DEVELOPMENTS

World Economic Outlook

6. Madam Speaker, according to the International

Monetary Fund’s (IMF) October 2024 World Economic

4