Govt approves State budget for 2011 with deficit of 3.6 %
The Source: SANA'A/hadhramaut.info/sabanews.net - 04/12/2010
Home \
Local News
The Cabinet approved ,in its extraordinary meeting on Saturday chaired by Prime Minister Ali Mujawar, the draft State budget for fiscal year 2011, as well as draft budgets of independent units and special funds and the economic sector and laws linked. The Cabinet emphasized Ministers of Legal Affairs and Parliament and the Shura Council Affairs, in coordination with Finance Minister, to forward the draft budget with the laws linked to the Parliament to complete the necessary constitutional procedures.According to the draft budget, the resources of the State budget at both the central and local levels for the next year have been estimated at over YR 1.519 trillion from various revenue sources for linking the resources of the current year to about YR 1.520 trillion, with a lack of 0.05 percent.While the uses for 2011 have been estimated at a mount of over YR 1.821 trillion divided into different sections of the budget, for a link for 2010 with a mount of about YR 2.12 trillion with a lack of 9.5 percent.And thus, the proportion of the net deficit in the budget is 3.6 percent, which means harmony with the reform program and the presidential directives on narrowing the deficit and making it at minimum limits that can be financed from non-inflationary resources.As for the draft budgets of the independent units and special funds, the resources and uses in the 2011 budgets of those units and funds, which follow a unified accounting system, have been estimated at a mount of YR 368.664 billion and their current activity surplus at YR 73.813 billion, while the estimated resources and uses of budgets at the similar units that follow the government accounting system for fiscal 2011 at a mount of about YR 33.560.With regard to the budgets of the economic public sector's productive units, allocations for each of the uses and resources for the fiscal year 2011 have been estimated at amount of more than YR 3.481trillion, and an activity surplus at YR 147.363
|