21.
In Consolidated Account terms, real expenditure
growth is now expected to be about 4.6% compared with an
original estimate of 4.9% (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 3% is in line with the budgetted
figure (9).
22.
Transfers to the various funds from General Revenue
Account of $6.6 billion will be as budgetted.
(8) See Appendix A, paragraph 22 for the definition of Consolidated Account.
(9) The position at the budget cut-off date (19 December) compared to a year
earlier.
/23. The
...
No comments yet.
Private notes are available after approval.