Anambra State Governor, Professor Chukwuma Soludo, has presented a budget proposal of six hundred and six billion, nine hundred and ninety-one million, eight hundred and forty-nine thousand, one hundred and eighteen kobo for the 2025 fiscal year.
The Governor made the presentation at the State House of Assembly Complex, Awka.
Compared to the 2024 budget of four hundred ten billion, one hundred and thirty-two million, two hundred and twenty-five thousand, two hundred seventy-two naira, the 2025 budget tagged; “Changing Gears two point zero”, represents a forty-eight-point zero percent increase.
Recurrent expenditures account for one hundred and thirty-nine point five billion naira, while capital expenditure is four hundred and sixty-seven point five billion naira.
The Capital Budget constitutes seventy-seven percent of the total budget size, while recurrent expenditures account for twenty-three percent; the same ratios as for the 2024 budget.
The budget deficit is estimated at one hundred and forty-eight point three billion naira, being twenty four percent of the budget compared to thirty percent in the 2024 budget.
According to the Governor, the budget deficit is expected to be financed by revenue growth or borrowing from financial institutions, stressing that his government may not borrow, just as it has not done since inception.
Earlier, the Speaker of the Assembly, Right Honourable Somtochukwu Udeze, noted that the present administration’s mantra is technology everywhere, everything technology, as well as transparency and E-Governance, adding that Governor Soludo’s transformative leadership is touching every aspect of the state economy.
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