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The estimated out-turn for FY2004 is a budget deficit of
$0.75 billion. Operating revenue, total expenditure and special
transfers are $28.31, $30.44 and $0.91 billion respectively.
Further details are at Annex
B.
Government's budget policy continues to be characterised
by restraint in Government expenditure. While the Government
is prepared to go into deficits during downturns, it aims
to have a modest surplus over the business cycle.
The budget out-turns for the years FY1998 to FY2004 are shown
in the following chart.
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