1
Budget Execution Report First Quarter FY 2009
Overview of Financial Posit ion
1. Budget Estimates
The Original Budget of Financial Year 2009 was approved on 9 February 2009 vide Law
No 12009. The Appropriations approved were US 680.873 million.
The Non‐ Petroleum Revenue Receipts for Financial Year 2009 were estimated at US
91.200 million. Parliament approved transfers from the Petroleum Fund of up to US
589.000 million during the year.
Appropriation Category Appropriations
US ‘000
Salary Wages 93,822
Goods Services 247,262
Minor Capital 38,053
Capital Development 205,371
Public Transfers 96,365
Total 680,873
2. Fiscal Estimates
The table below describes the revenue and expenditure estimates, and also shows
financing of the budget. The budget estimated a total expenditure of US 680.873
million and domestic non‐petroleum revenue estimated at US 91.200 million. The total
fiscal deficit was estimated as US 589.673 million US680.873 – US91.200 million.
This deficit is to be financed by transfers from Petroleum Fund of US 589.000 million
and by use of cash balances of US 0.673 million.
2
Budget Estimates
US’000 RECEIPTS
1. Domestic Revenue 2+3
91,200
2. Tax revenue 49,300
3. Non-tax revenue 41,900
4. Capital Receipts from Petroleum Fund 589,000
5. Total State Budget Receipts 1+4 680,200
EXPENDITURE
6. Recurrent Expenditure 7+8+9+10
475,502
7. Salary Wages 93,822
8. Goods Services 247,262
9. Minor Capital 38,053
10. Transfers 96,365
11. Capital Development
205,371 12. Total Recurrent + Capital Expenditure 6+11
680,873
SURPLUS DEFICIT
13. Recurrent Surplus Deficit 1-6 -384,302
14. Fiscal Surplus Deficit 1-12 -589,673
15. Fiscal Deficit financed by: a. Capital Receipts from Petroleum Fund
589,000 b. Drawdown from Cash Reserves
673
Budget Execution Whole of Governm ent
1. Overall Budget Ex e cution
The revenue and expenditure figures provided in this report are provisional subject to
reconciliation and audit.
3
Original Budget
Estimates US’000
Budget Estimates
US’000 Actual
Cash US’000
Commit ment
Obligatio ns
US’000 RECEIPTS
1. Domestic Revenue 2+3
91,200 91,200
43,474 -
2. Tax revenue 49,300
49,300 21,900
- 3. Non-tax revenue
41,900 41,900
21,574 -
4. Capital Receipts from Petroleum Fund 589,000
589,000 200,000
-
5. Total State Budget Receipts 1+4 680,200
