Approved 2018 Budget		Prelim- inary Results
67.62	Average Oil Price (S)	65
977	Average of Daily Oil production (000 bbl)	973
10950	Total Public Revenue	11100
6536	Oil Revenue	6100
2031	Gas Revenue	2000
2383	Non-oil Revenue	3000
2233	Tax & Fees Revenue	2350
150	Capital Revenue & Repayments	650
13600	Total Expenditure	13700
4385	Civil Ministries Expenditure	4600
3879	Defense & Security Expenditure	3530
2580	Cost of Oil & Gas production	2430
1352	Development Expenditure	1500
477	Electricity Subsidies	620
618	Debt Service (Interests)	730
309	Other Expenditure	290
(2650)	Total Budget Deficit	(2600)

Make a comparative report on the approved budget of 2018 with the preliminary result of 2019 budget.

• Using the budget information provided in the table , (page-15) make a comparative report on the approved budget of 2018 with the preliminary result of 2019 budget.

Your report must cover the following items:

Sector contribution and its impact on the total revenue. Rationally analyze and comment on the positive indication in the preliminary results of 2019. (4 marks)

Carry out a vertical analysis of the expenditure for both years and judiciously comment on the expenditure of each category on the total expenditure. ( 4 marks)

Can government increase the tax rate and cut government expenditure to address the deficit?

What impact it makes on the economy? (2 marks)