IN-YEAR BUDGET FISCAL PERFORMANCE REPORT QUARTER 3 2022.

Government’s total revenue at the end of the third quarter of 2022 was $454.27 million, representing 48.1% of the annual budget, and was 66.9% higher than the revenue for the same period in the previous year 2021. The achievement rate of 48.1% means the Q1-Q3 performance was far below the 75% prorata expectation (i.e., less than half of revenue budget collected with three quarters of the year covered). Q3 nonetheless performed relatively well, where $216.8 million was realised compared to $77m and $156m in Q1 and Q2 respectively (see Table 1). The relatively good performance in Q3 reflects the recovery of the fiscal situation from the effects of the elections delays which saw budget support suspended during the first half of the year yet budget support accounts for over 30% of Government’s revenue.