TNAG-1725-FCO40-2438-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 61

MEDIUM RANGE FORECAST, 1987-88 TO 1991-92

Appendix A

INTRODUCTION

The Medium Range Forecast (MRF) is Government's planning tool for ensuring that budgetary policy, and in particular expenditure programmes, are developed and implemented within the context of the economy as a whole looking forward over a five year period. It is the starting point from which detailed expenditure programmes and taxation measures are developed and is a reflection of the financial consequences of policy decisions. The MRF is updated regularly.

2 This MRF is for the period 1987-88 to 1991-92 and has been used in the formulation of the 1988-89 budget. It is presented in three sections:

(I) Forecasting assumptions and budgetary criteria.

(II) The MRF for 1987-88 to 1991-92.

(III) Commentary on the MRF in relation to budgetary criteria.

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