K4,636 Million Budget Deficit Expected for 2019
Treasury Minister Ian Ling-Stuckey conducted a due diligence on the state of the 2019 government budget as his first task after James Marape commissioned him as the nation’s Minister for Treasury about a month ago, announcing the budget deficit of K4,636 million. The updated estimate for revenues in 2019 is K13,022 million, a decrease by K1,244 million from the original 2019 budget. The updated estimate for expenditures in 2019 is K17,658 million, an increase by 1,525 million from the original 2019 Budget. Treasury Minister Ling-Stuckey indicated of big and painful cuts in the Supplementary Budget next week.