The shortfall is in lower revenues rather than higher spending, since faster than planned growth in current expenditure looks set to be offset by lower than expected increases in investment.
Indeed, compared with the same period in 2006, current expenditure decreased in absolute value during the first ten months of 2007.Tommaso Padoa-SchioppaMinister of economy and financeRomeExtreme sportsSIR – I am guessing that those Norwegians who jump off cliffs for fun would not take such dire risks if they had to pay for hospital treatment ("Human lemmings", December 22nd).
The administrative budget traditionally deals only with current expenditures; in many countries, some items are regarded as inappropriate for inclusion because they finance capital expenditures or are loans to other public bodies.
In this case, their current expenditures do depend on disposable income so that automatic stabilizers play a role.
Two complementary indicators of economic hardships capturing self-reported economic difficulties were included; (ii) inability to meet expenses (difficulties in managing current expenditure for food, rent, bills, etc. during the past 12 months) and (iii) lacking cash reserves (not being able to get hold of 15 000 SEK (about 1600 Euros) within a week if needed).
The second phase focused on data collection at the national level, in Ethiopia, including; budgets, disbursements and current expenditures, by PR and by activity within SDAs when possible.
All other public expenditures remain almost equal to their corresponding values in the benchmark, and the effect on total current expenditures is negligible.
In addition, prior expenditures were also strongly related to current expenditures (Pearson's correlation coefficient between 2002 and 2003 total expenditures: 0.64), and about 50% of high-expenditure users in 2002 remained so in 2003.
Based on our current expenditures, we expect these funds will last until sometime in the beginning of April," Warren said.
