The estimated out-turn for FY2003 is a budget deficit of $0.90 billion. Operating revenue, total expenditure and special transfers are $29.62, $29.92 and $0.60 billion respectively. Further details are at Annex B .

Government's budget policy continues to be characterised by restraint in Government expenditure. Deficits are avoided unless the circumstances are exceptional. This is to ensure that the budget is at least balanced over the term of the government.

The budget out-turns for the years FY1997 to FY2003 are shown in the following chart.