The government of Sao Tome and Principe submitted to the National Assembly (parliament) the draft state budget for the 2015 fiscal year estimated at about US$154 million, the country’s Minister of Planning and Finance said Monday.
Américo Ramos announced a forecast for external financing of about US$94 million either as donations or loans, and the remaining US$60 million will be covered by domestic revenues.
The minister said the largest amount of funding was earmarked for the energy sector with a forecast of 13 percent followed by education with 12 percent, health with 10.6 percent, roads with 10 percent, agriculture 5.4 percent and domestic security with 5 percent.
Describing the budget as “realistic”, Américo Ramos announced a payroll increase in the public service, without giving figures as well as the priority in payment of debts to international organisations and to scholarship students abroad.
Supported by 90 percent foreign investment, the São Tomé and Principe budget of totalled US$159 million. (macauhub/ST)