Presenting the proposal christened “Budget of Consolidation and Continuity” at the State House of Assembly in Owerri, Governor Rochas Okorocha said that One hundred and thirty two point nine billion naira was allocated to capital expenditure while fifty seven point nine billion representing thirty percent of the budget would be spent on recurrent expenditure.
The projected recurrent revenue is ninety eight point one billion naira while capital receipts stood at ninety two point seven billion.
A breakdown of the budget indicates that Works and Transport Sector got the highest allocation of thirty nine point eight billion naira followed by Education which received thirteen point five billion.
Health Sector got eight point four billion while Agriculture and Environment got seven point six billion naira.
Governor Okorocha explained that this year’s budget which stood at One hundred and thirty one point one billion naira recorded seventy five percent performance as at last September and expressed the optimism that significant increase would be recorded by the end of the year.
He stated that next year’s budget would further tackle unemployment, reduce poverty and ensure completion of all ongoing projects in the state.
Governor Okorocha promised to embark on construction of rural roads, improve health care and security of lives and property.
In a remark, the Speaker, Imo State House of Assembly, Chief Iheanacho Ihim commended the Governor for embarking on infrastructural development and promised speedy passage of the budget by the House.
The twenty eighteen budget is higher than that of the outgoing year by fifty nine point seven billion naira.