The fall in the global prices of oil occasioned by the Coronavirus pandemic has forced the Anambra State government to review its budget for the year 2020.
The Budget was revised from N137.1 billion, down to N112.8 billion, representing a reduction of about N24.3 billion from its original size for the year. Okoye said, “A breakdown shows that recurrent expenditure will decline by 18.9 percent from an initial N58.8 billion to N47.7 billion, while total capital expenditure has been reduced by 16.9 percent from N78.4 billion to N65.1 billion.
He added that the budgets of critical sectors like health, water and sanitation were left untouched to ensure that there would be a buffer to contain COVID-19 outbreaks and associated social distancing and economic fall-outs.
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