Anambra State Government, through the Ministry of Budget and Economic Planning, has given a breakdown of the one hundred and seventy billion naira, which is the size of the 2022 revised draft budget.
Government House Correspondent, ValentineMbadugha reports that the revised budget has been presented before the members of the Anambra State House of Assembly on the nineteenth of this month.
The Commissioner for Budget and Economic Planning, Mrs Chiamaka Nnake, who did the breakdown during a press briefing, in Awka, revealed that recurrent expenditure accounts for thirty-six percent of the total budget, while capital expenditure accounts for the remaining sixty-four percent.
She further explained that about sixty percent of the capital expenditure is targeted at delivering infrastructure that the average citizens can feel, see, use or touch, and which will have the highest developmental impact.
Mrs Nnake also gave a breakdown of the budget allocations across the priorities of the State, which include works, transport, security, community-choose-your-project, youth development, water, power, education, health, agriculture, ICT, reforming and digitizing revenue collection in the State, airport work in progress, among others.
She also explained that the budget will be funded with twenty-four percent of internally generated revenue, thirty-six percent of federal allocation, and a forty percent loan.
One hundred and eighty billion naira according to the Commissioner, was allocated to capital expenditure, while sixty-one point four billion naira was allocated to recurrent expenditure for the year ending 2022.
The State Commissioner for Information, Mr Paul Nwosu and the Permanent Secretary in the Ministry of Budget and Economic Planning, Mrs Stephanie Kerry-Uzo were present during the press briefing.
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