“This special BIDPA Briefing takes a historical look at government budget performance, highlighting the changing fiscal outlook and its implications for future macroeconomic policies. The first part of the Briefing considers how revenue prospects are becoming less buoyant at the same time that serious pressures are emerging for large increases in public expenditures for programmes such as combating and coping with HIV/AIDS. The “crossover” into fiscal deficit territory will necessitate difficult public
choices and more stringent budgetary
practices, along with revenue enhancement
measures. The second part of the Briefing
looks at the functional classification of the
budget, highlighting the reduced shares going
to economic services. The review raises
concerns about the implications this may have
for achieving National Development Plan and
Vision 2016 objectives for sustainable
economic diversification, international
competitiveness, employment creation and
poverty reduction.”
