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THE MEDIUM RANGE FORECAST: FLOW CHART REPRESENTATION
FORECAST
TREND REAL GDP GROWTH
SET TOTAL PUBLIC
EXPENDITURE
GROWTH
FORECAST REVENUE GROWTH
FORECAST CURRENT COMMITMENTS
NEW
REVENUE MEASURES
BALANCE AVAILABLE FOR NEW PROGRAMMES
ADD AGREED NEW CAPITAL
& CURRENT COMMITMENTS
STAR CHAMBER
RESOURCE ALLOCATION EXERCISE
SELECT
PRIORITY
NEW
COMMITMENTS
FORECAST INFLATION
ADJUST REAL TO
TO NOMINAL
TERMS
REVIEW EXP/GDP
& RESERVES
POSIITON