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.
Allocations:
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.
