The Estimates in the Context of the Economy

Relationship between Government Expenditure, Public Expenditure and GDP

	(All figures in $million at 1999-2000 prices)
	Government Expenditure	Public Expenditure
General Revenue Account
Recurrent Account	179,740	179,740
Capital Account (see Note 1)	5,800 __________	5,800 __________
	185,540	185,540
Capital Works Reserve Fund	33,110	33,110
Loan Fund	10,890 __________	10,890 __________
	229,540 __________	229,540
Trading Funds		3,800
Lotteries Fund		1,270
Housing Authority		41,730
Provisional Urban Council		8,620
Provisional Regional Council		5,170 __________
		290,130 __________
GDP(see Note 2)		1,374,275
Public Expenditure as a % of GDP (see Note 2)		21.1%

Note 1 :

To avoid the double-counting of expenditure these figures exclude government's payments to the two municipal councils

Note 2 : GDP is calculated by applying trend growth to the latest 1998 estimate

Comparison of Cumulative Growth in Government Expenditure with Cumulative Growth in GDP since the introduction of the Medium Range Forecast

Public Expenditure as a Percentage of Gross Domestic Product