The budget is targeted at completing on-going infrastructural projects and aimed at accelerating economic growth and development in the state with capital expenditure taking 60 per cent of the total sum, while the rest will be used for recurrent expenditure.
The Governor disclosed that the sum of N87.407 billion is being proposed as capital expenditure while the proposed recurrent expenditure is N62.637 billion.
The proposed N87.40 billion capital project will be allocated to priority areas; Works (road) N33.35 billion, Education N14.55 billion; Drainage and Sewage Environmental Protection N13.29 billion, Health, N2.80 billion and Water N1 billion.
On funding the budget, Governor Oshiomhole said the sum of N116.479 billion is proposed as recurrent revenue with N86.51 billion as statutory receipts and N26.97 billion Internally Generated Revenue.
He said projected Capital receipts amounts to N64.341 billion while a projected deficit of N23.065 billion is to be funded through the World Bank Budget Support Facility and additional credit lines.
The Speaker of the State House of Assembly, Hon. Uyi Igbe assured that the budget would be given speedy consideration.
The 2013 budget tagged “Taking Edo State to the next Level” is lower than the 2012 budget of N150.97 billion.
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