Closing balance for Government
Reserves on 31.3.97
Deduct
Set-aside
Equity injections
(AA + HA + MTRC)
Expenditure on LFC
Add
12
Annex 1 (page 2)
(All
figures
at
money-of-the-day prices $ million)
in
I
53,150
25,000
30,000 (*)
14,500
(69,500)
Outstanding Government debt
5,000
Sale of LFC
15,000
New revenue measures from 1992-93 onward
13,400 (**) 33,400
Equals Cushion
17,050
Contingencies
$17,050 million as a percentage of :
(a)
Cost/scope over-runs of ACP
(estimated at $53,700 million at today's prices)
328
(b)
Reduction of GDP growth from 5% to 4.5% p.a. and its effect on revenue yields
($15,000 million)
114%
(c)
Under-achievement in sale of LFC by 50% ($7,500 million)
227%
(a)
Aggregate of (a), (b) and (c)
22.4%
(*)
This figure is made up of
Equity injections into Housing Authority Equity injections into PAA/AA
Equity injections into MTRC for the AR Expenditure on GIC facilities at CLK
$ billion
2.0
18.5
5.3
4.2
Total
(**)
This assumes the
thereafter.
$1.25 billion in 1992-93 and $0.25 billion each year The cumulative effect for the forecast period
at money-of-the-day prices is $13.4 billion.
30.0
following revenue growth in real terms :