The government's budgeted spending plans for the current fiscal year (FY, January to December 2025) are conservative. Yet, as is usually the case, we expect a supplementary budget to lift these spending targets halfway through the year. The budget also plans to reduce subsidies. While this is socially unpopular, it would pave the way for the state to invest more in new roads and railways and to support projects in the agricultural, industrial, and energy sectors.
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