Draft state budget 2018: public debt exceeds 76 billion dinars (FactBox) | Tunisia News Gazette

Draft state budget 2018: public debt exceeds 76 billion dinars (FactBox)

The State budget for the 2018 financial year is estimated at 35,951 million dinars, including external transferred credits (100 MD), i.e. an increase of 4.3% or 1,496 MD compared to the expected results for 2017, according to the report of the Parliamentary Finance Committee.

Estimates of the draft budget were based on the achievement of a growth rate of 3%, an oil barrel price of $ 54 and a budget deficit of 4.9%.

About 73% of the State’s resources come from own resources and 27% from indebtedness. The share of tax resources is 65%, compared to 62% forecast in 2017 and 64% in 2016.

Management expenses are estimated at 22,136 MD, up 596 MD and 2.8% compared to the 2017 updated results.

Salary expenditures amount to 14,751 MD equivalent to 13.6% of GDP against 14,300 MD and 14.7% of the updated results of 2017.

Subsidy expenditures are estimated at 3,520 MD, of which 1,570 for essential goods, 1,500 for hydrocarbons and electricity and 450 MD for public transport.

A sum of 200 MD will be allocated to the National Social Security Fund (CNSS), against 500 MD in 2017 and this in accordance with the move to diversify the funding sources of this fund, especially with regard to social solidarity contribution.

The debt service will amount to 7,972 MD in 2018, for principal and interest against 7,090 MD in 2017.

As for the development expenditures in 2018, they will be limited to 5,743 MD, or 5.4% of GDP, which is almost the same rate to be achieved in 2017, without taking into consideration projects that will be carried out under the public-private partnership for 500 MD.

The budget deficit would be 4.9% of GDP, or 5,216 MD in 2018 against 6.1%, i.e. 5,977 MD planned in 2017, which requires the mobilisation of credits of the order of 9.5 billion dinars in 2018, of which 2.2 billion dinars will be raised under domestic borrowing and 7.3 billion dinars in external borrowing.

Therefore, public debt will reach 71.4% of GDP or 76.1 billion dinars in 2018 against 69.6% of GDP, expected in 2017 or 67.9 billion dinars.

Source: TAP News Agency

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