Government projects $63.4B Budget for 2027

Fi­nance Min­is­ter Dav­en­dranath Tan­coo has pro­ject­ed Gov­ern­ment ex­pen­di­ture of $63.368 bil­lion for fis­cal 2027, with rev­enue es­ti­mat­ed at $59.729 bil­lion, leav­ing a deficit of $3.639 bil­lion.

Pre­sent­ing the 2027 Bud­get in Par­lia­ment to­day, Tan­coo said the pro­ject­ed deficit rep­re­sent­ed 2.1 per cent of gross do­mes­tic prod­uct (GDP), with­in the in­ter­na­tion­al bench­mark of three per cent.

The pro­ject­ed ex­pen­di­ture of $63.368 bil­lion com­pares with a re­vised es­ti­mate of $61.247 bil­lion for fis­cal 2026, when Gov­ern­ment is ex­pect­ed to record a deficit of $7 bil­lion on rev­enue of $54.247 bil­lion.

For fis­cal 2027, Gov­ern­ment is work­ing with an oil price as­sump­tion of US$77 per bar­rel, up from US$73.25 in 2026. The nat­ur­al gas price as­sump­tion has al­so in­creased to US$5 per mil­lion British ther­mal units (MMB­tu), com­pared with US$4.25 in 2026.

Of the pro­ject­ed $59.729 bil­lion in rev­enue, $14.355 bil­lion is ex­pect­ed to come from oil, $45.062 bil­lion from non-oil sources and $312 mil­lion from cap­i­tal rev­enue.

Health has been al­lo­cat­ed $8.061 bil­lion.

Ed­u­ca­tion and train­ing will re­ceive $8.033 bil­lion.

Na­tion­al Se­cu­ri­ty has been al­lo­cat­ed $7.321 bil­lion,

Pub­lic Util­i­ties has been al­lo­cat­ed $4.087 bil­lion.

Oth­er al­lo­ca­tions in­clude $2.323 bil­lion for Rur­al De­vel­op­ment and Lo­cal Gov­ern­ment, $2.081 bil­lion for In­fra­struc­ture, $1.712 bil­lion for Trans­port, $987 mil­lion for Agri­cul­ture and $904 mil­lion for Hous­ing.

Tan­coo said the al­lo­ca­tions were in keep­ing with the Gov­ern­ment’s pub­lic pol­i­cy agen­da.