[MoF] Evaluation of Income and Expenses for April and May

Day 1,660, 02:09 • Published in Belgium Belgium • by NBB-BNB

Hello,

As my final hours as Minister of Finance I’ld like to give you a short overview of the evolution of state budgets and expenses. Our state is solid financially which means we’ll be able to cope with unforseen expenses easily. In these last three months the spending and income of the state have undergone large changes.

On the spending side; since the start of my three terms, a lot has changed. We are again spending on our national military with three different projects and budgets for citizen programs have been adjusted to actually spend the income we were suddenly getting. New programs like the Pulse subsidies or Boost Your Strength² saw the light. Old programs like Citizen Packs saw their output doubled or their budgets adapted like Belgian Training Academy to reflect the reality of spending.

On the income side we went way up and then dropped halfway back. When income dropped further we intervened with the Boost Taxes Program where 16 participants import goods on our market. This program generates around 30.000 BEF to 40.000 BEF in taxes every day and has avoided us to drop back and take a huge hit on the income level requiring to scrap the benefits we had designed for our citizens.

Underneath you’ll find a short review of the income and expenses on the different programs of eBelgium for the months of April (April 6th-May 5th) and May (May 6th-June 5th) to complete my last report of March.

April

Income
Taxes: 1.705.954 BEF
Medal Donation: 5 Gold

Loan reimbursements: 38.280 BEF
Unused budgets March: 2.404,82 BEF
Gold loan reimbursements: 35 Gold
Unused budgets March: 10 Gold

BEF expenses:
Belgian National Army: 150.000 BEF
MPP: 80.000 BEF
Citizen Packs: 65.983,60 BEF
Boost Your Strength: 50.000 BEF
Pulse Subsidies: 20.000 BEF
MoFUN: 17.000 BEF (including Lottery)
Civilian Raids: 16865,50 BEF

Gold Expenses
The Belgian Paras: 240 Gold
Boost Your Strength: 40 Gold
Gold Loans: 30 Gold

Average conversion rate for April: 1 Gold = 1844 BEF
Net result on reserves in April: + 867.349,72 BEF

May

Income
Taxes: 1.571.267 BEF
Private Donation: 1.000 Q6 Tanks

Unused budgets April: 149.241,60 BEF
Gold loan reimbursements: 105 Gold

BEF expenses:
Belgian National Army: 293.400 BEF
The Belgian Paras: 213.000 BEF
Citizen Packs: 90.764 BEF
MPP: 60.000 BEF
MoFUN: 28.250 BEF (including Lottery)
Boost Taxes Program: 20.000 BEF (money remains property of the state)
Town Center Subsidies: 10.000 BEF

Q6 Tanks expenses:
Citizen Packs: 700
Belgian Training Academy: 300

Gold Expenses
The Belgian Paras: 435,75 Gold
Boost Your Strength: 100 Gold
Gold Loans: 70 Gold

Average conversion rate for May: 1 Gold = 2083 BEF
Net result on reserves in May: (- 36.486,65 BEF)

Remarks
- The total reserves of eBelgium currently hold over 3.500.000 BEF and over 1.200 Gold.
- The Belgian Training Academy has been able to live with the reserves carried over from March and still has some left.
- Most citizen programs have reserves left in the accounts of the managers
- The recession on the goods market has caused a large dip in taxes requiring the startup of the Boost Taxes Program to keep our income up to a decent level. This program is designed to not put stress on taxes paid by citizens while being able to keep all programs running.
- The exponential rise of the Gold price is putting pressure on programs with Gold spending that will need to be monitored over the next two months.

I hope This enlightens you on our current financial situation.

I wish the best of luck to the challenges that await our future government,
Signing off,
Nohjis
Minister of Finance