Budget Item
Approved 2001/2002 Budget
Projected Outturn for 2001/2002
Proposed 2002/2003 Budget
Revenues and Grants
37.3
36.3
37.6
Revenue
33.5
33.3
Customs Revenue
16.7
15.7
Non-custom tax revenue
11.1
11.0
12.4
Income Tax
6.2
6.7
7.6
Sales Tax/VAT
4.2
3.6
3.8
Oil Levy
0.7
0.6
0.8
Other tax revenues
0.0
0.1
0.2
Non-tax revenue
5.7
5.6
5.2
Grants
3.0
Expenditure & Net lending
37.8
34.5
Recurrent Expenditure
28.5
28.6
29.2
Wages and Salaries
11.7
11.5
11.8
Interest Payments
2.5
2.3
Other Goods & Services
14.3
14.9
15.1
Capital Expenditure
9.3
7.3
8.6
GoL Funded
3.5
3.9
3.3
Externally Funded
5.9
3.4
5.3
Grant Funded
3.1
1.9
3.2
Loan Funded
2.8
1.5
2.1
Net Lending
-1.4
Overall Surplus before grants
-4.3
-1.2
-4.5
Overall Surplus after grants
-0.5
1.8
-0.3
Total Financing
0.5
-1.8
0.3
Foreign Financing
0.9
Loan Drawings
Amortization (Loan repayment)
-2.7
-2.8
-2.9
Domestic Financing
-0.4
-1.5