Finance bill sets at 1,210 billion CFA francs, including expected donations, Chad’s budget for 2020, the Ministry of Finance and Budget announces in a document copied to APA Tuesday.
Revenues in this budget amount to 1,046 billion against 983 billion CFA francs in 2019, representing an increase of 23 percent, the statement said, insisting on a gross domestic product growth of 3.4 percent.
Expenditures that include depreciation and amortization amount to approximately 1,326 billion, compared to 1,106 billion CFA francs in 2019, representing an increase of 20 percent. This imbalance between expenditures and projected revenues will result in “a forecast deficit of 117 billion CFA francs that should be financed by external support and bank financing.”
In addition, the document specifies that the Finance Act devotes at least 34 percent of all primary expenditures to the social sectors, in particular, national education, health, social action, animal husbandry, agriculture, agriculture and forestry, environment and vocational training, in line with the program linking Chad to the International Monetary Fund.
Similarly, all major hospitals in Ndjamena and those in the provinces will have their allocations increased. This should improve the quality of health services and benefits for the populations.
The Ministry of Finance reassured that, for a better management focused on the control of the expenses and the increase of the receipts, the Finance Bill foresees the securing of the receipts by reinforcing the collection on the value added tax (VAT).
It is also expected, ministry technicians say, a strengthening of the computer system and other more efficient media that can ensure efficient resource management.
AHD/ard/cat/fss/abj/APA