Budget Surplus or Budget Deficit? A budget deficit occurs when a government spends more money than it takes in, while the reverse holds true for a budget surplus. What does this suggest about the calculation of the “budget surplus” for the past fiscal year (FY2019/20) and the new fiscal year (FY2020/21)? Now let us calculate the expected Budget Surplus/Deficit for the new fiscal year = (Total Revenues – New Borrowings – Total Expenditure = US$535,452,000-103,000 -535,452,000 = – US$103,000,000. [2] See the Revenue Fiscal Table in the Draft Budget, page xxxv.

Source: Front Page Africa August 02, 2020 17:15 UTC