Budget Item
Approved 2001/2002 Budget
Projected Outturn for 2001/2002
Proposed 2002/2003 Budget
Revenues and Grants
46.1
44.9
45.8
Revenue
41.5
41.2
40.7
Customs Revenue
20.7
19.2
Non-custom tax revenue
13.7
13.5
15.1
Income Tax
7.6
8.3
9.3
Sales Tax/VAT
5.2
4.4
4.6
Oil Levy
0.8
0.7
1.0
Other tax revenues
0.0
0.1
0.2
Non-tax revenue
7.0
6.3
Grants
4.7
3.7
Expenditure & Net lending
46.7
42.7
46.2
Recurrent Expenditure
35.2
35.4
35.7
Wages and Salaries
14.5
14.1
14.4
Interest Payments
3.1
2.9
2.8
Other Goods & Services
17.6
18.4
18.5
Capital Expenditure
11.5
9.0
10.5
GoL Funded
4.3
4.8
4.1
Externally Funded
7.3
4.2
6.5
Grant Funded
3.8
2.3
3.9
Loan Funded
3.4
1.9
2.6
Net Lending
-1.7
Overall Surplus before grants
-5.3
-1.5
-5.5
Overall Surplus after grants
-0.6
2.2
-0.4
Total Financing
0.6
-2.2
0.4
Foreign Financing
1.1
-0.3
0.3
Loan Drawings
Amortization (Loan repayment)
-3.3
-3.4
-3.6
Domestic Financing
-0.5
-1.9