|
Medium
Range Forecast
83.
If
our economy grows as forecast, the medium range
forecast for 2007?8 to 2011?2 will be as
follows:
|
2007?8
($ billion)
|
2008?9
($ billion)
|
2009?0
($ billion)
|
2010?1
($ billion)
|
2011?2
($ billion)
|
|
Operating
revenue
|
221.4
|
244.7
|
258.2
|
270.6
|
287.2
|
|
Operating
expenditure
|
214.2
|
221.7
|
229.5
|
237.5
|
245.8
|
|
Operating
surplus
|
7.2
|
23.0
|
28.7
|
33.1
|
41.4
|
|
Capital
revenue
|
52.4
|
63.0
|
64.0
|
63.8
|
67.5
|
|
Capital
spending (including payments from the
Capital Investment Fund)
|
34.2
|
36.4
|
47.0
|
51.5
|
50.2
|
|
Repayment
of government bonds and notes
|
?o:p>
|
2.7
|
3.5
|
?o:p>
|
?o:p>
|
|
Capital
financing surplus
|
18.2
|
23.9
|
13.5
|
12.3
|
17.3
|
|
Consolidated
surplus
|
25.4
|
46.9
|
42.2
|
45.4
|
58.7
|
|
-
as a percentage of GDP
|
1.7%
|
2.9%
|
2.4%
|
2.5%
|
3.0%
|
|
Fiscal
reserves
|
391.2
|
438.1
|
480.3
|
525.7
|
584.4
|
|
-
as a number of months of government
expenditure
|
19
|
20
|
21
|
22
|
24
|
|
-
as a percentage of GDP
|
25.4%
|
26.9%
|
27.8%
|
28.7%
|
30.1%
|
|
Public
expenditure
|
267.8
|
276.5
|
295.6
|
308.8
|
316.0
|
|
-
as a percentage of GDP
|
17.4%
|
17.0%
|
17.1%
|
16.8%
|
16.3%
|
84.
We forecast a
surplus of $7.2 billion in the Operating Account for
2007?8, and this will build up to $41.4 billion
in 2011?2. In respect of the Consolidated
Account, a surplus of $25.4 billion is estimated to
occur in 2007?8, and this will build up to $58.7
billion in 2011?2. We will increase
operating expenditure moderately over the next few
years to enhance the quality of government services
and cater for inflation.
|
|