TNAG-1725-FCO40-2438-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 22

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21.

In Consolidated Account

per cer

terms, real expenditure

Per cent growth is now expected to be about 4.60 compared with an

per cent original estimate of 4.98 (8). Furthermore, as a result of the exceptional growth rate in the economy, Consolidated Account expenditure as a proportion of GDP has fallen from 16 in 1986-87 to around 15% The growth in the establishment of the Civil Service at just over 30 is in line with the budgetted

figure (9).

22.

Per cent

Transfers to the various funds from General Revenue

Account of $6.6 billion will be as budgetted.

(8)

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(9)

See Appendix A, paragraph 22 for the definition of Consolidated Account.

The position at the budget cut-off date (19 December) compared to a year earlier.

12

/23. The