12.
Goverment's liabilities in the ACP can be summarised into the following two
categories
-
(a) Direct Government expenditure under the Public Works Programme
-
Over the
(b)
period 1991-92 up to 1996-97, Government expenditure on ACP projects will absorb
about a quarter of the total Government capital expenditure for the period.
Government investment in statutory corporations The estimated investment of $3
billion and $13.6 billion into the Mass Transit Railway Corporation and the Airport
Authority, respectively, has also been allowed for in the consolidated cashflow
projection in the Budget 1992.
13.
We forecast adequate reserves over the period to meet all of Government's
commitments, including ACP expenditure and investment, and leaving a prudent amount available
to meet unforeseen adverse circumstances. Both existing and new contingent liabilities will be
prudently covered.
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