01:09 GMT21 September 2020
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    The International Monetary Fund’s (IMF) said Friday it had set the net administrative budget for fiscal year 2018 at $1.1 billion.

    WASHINGTON (Sputnik) — The International Monetary Fund’s (IMF) said in a release on Friday its administrative budget for fiscal year 2018 has been set to amount $1.1 billion.

    "The net administrative budget for FY [fiscal year] 2018, which covers all administrative expenses net of receipts… has been set at US$1,104 million," the release stated.

    The IMF noted that the budget is slightly higher than that of 2017 due to increase in costs for information technology and physical security.

    At the same time, the 2018 capital budget, which has been set at $66.4 million, will finance new capital projects for building facilities and information technology, according to the release.

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    Tags:
    fiscal year, budget, International Monetary Fund
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