Publication Category:
38
In-Year Reports
Publication Type:
Legal Document
Publication Topic/Subject:
BUDGET IMPLEMENTATION
Publication Corporate Author:
Budget Department
Release Date:
Thursday, July 27, 2023
In-Year Budget Fiscal Performance Report (Quarter-One 2023)
In-Year Budget Fiscal Performance Report (Quarter-One 2023)
In the first three months of 2023 a total revenue of $80.88 million was collected, which was 8.5% of the annual budget, and 4.6% higher than the revenue collected in the same period last year. On prorata basis, it should have been 25%, thus the collection for the first quarter is considered as having underperformed, overall. Domestic revenue brought in $64.90 million which was 22.9% of the annual budget (still less than the 25% prorata expectation), and increased by 14.1% compared to the collection in the same period last year. Donor grants, which were programmed to contribute 70% of the 2023 FGS budget, brought in $15.98 million in the first three months of the year, representing 2.4% of the annual budget (far below the 25% prorata expectation), and 21.9% lower than the grants received in the same period last year. The observed grant receipts of $15.98 m came from multilateral institutions, and none from bilateral governments. Over the past years the performance of donor grants in the first quarter has followed more or less a similar trend.