Politics Governor Okowa Proposes N298.078Bn For 2018

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Delta state governor, Senator Ifeanyi Okowa on Friday present a fiscal proposal of N298.078 billion he tagged a budget of hope and economic consolidation for the services of Delta State Government in 2018.

The 2018 budget proposal shows an increase of N3.62bn or 1.21%, compared to the 2017 approved budget of N294.4bn and comprises the sum of N147.5bn or 49.48% for recurrent expenditure, andN150.5 or 50.52% for capital expenditure.

The proposed recurrent expenditure estimates for 2018 of N147.5bn is made up of personnel costs of N64.3bn or 43.36%, and overhead costs of N46.8bn or 31.56%., while the proposed capital expenditure estimates for 2018 is N150.6bn., which proposal is N14.1bn or 9.39% higher than the 2017 capital budget of N136.4bn. and the Consolidated Revenue Fund Charges has a proposed sum of N37.23bn or 25.09%.

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Governor Okowa said the philosophy behind the proposed 2018 Budget is formulated within the context of the successes and challenges of the past two years, as it seeks to essentially consolidate the gains of the past as while striving to build an economy that works.

He explained that proposed 2018 fiscal blueprint is derived from the Fiscal Strategy Paper projections for years 2018 to 2020 and in compliance with International Public Sector Accounting Standards (IPSAS).
 
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