Chad's budgetary deficit revised to $800m

Chad's budgetary deficit for the 2013 financial year has been revised to 401 billion FCFA (slightly over 800 million U.S. dollars), according to the finance bill adopted by parliament on Monday evening. The expected revenue during the financial year will stand at 2. 8 billion dollars, against an initial figure of 2.7 billion dollars. On the other hand, the expenses are expected to move from 3.4 billion dollars to 3.6 billion dollars. The budgetary deficit will mainly be funded by the surplus finances obtained in 2012, a loan borrowed from Equatorial Guinea and by the funds earned from the international bond floated on the regional financial market. Chad's Finance and Budget Minister Atteib Doutoum said the government was forced to borrow additional funds to build infrastructure that will facilitate the hosting of the African Union summit in N'Djamena in 2015, and to support military interventions in Mali and Central African Republic.