2004 financial year budget confirmed [Archives:2003/680/Local News]
Yasser Mohammed Al-Mayyasi
Sanaa, Oct 26 – The Yemeni council of ministers ratified last Wednesday the general 2004 budget for the state and independent projects and private funds. The expenses were estimated at around seven hundred and forty four billions and six hundred and two million Yemeni Riyals (YR 744,602,000). This signals an increase of 11.4% from last year's budget. The general revenues were estimated to be six hundred and eighty one billion and one hundred and fifty two million Yemeni Riyals (681,152,00 YR) yielding an increase of 12.7% from that of last year.
The deficit therefore, is calculated to be sixty three billion and four hundred fifty million five hundred and seventy one thousand Yemeni Riyals (63,450,571 YR) composing 3% of the total national production.
It is worth noting that annual budgets are usually overwhelmed by new expenses that result from ill estimates or outdated information and sometimes unexpected incidents. Hence, it is expected that the deficit may exceed the estimated amount significantly.