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Example: Budget committee presents the following summary of budget figures for the budgetary year 2009/2010 (numbers by millions LE): Item Actual Data 2008/ 2009/2010 07/08

Example: Budget committee presents the following summary of budget figures for the budgetary year 2009/2010 (numbers by millions LE): Item Actual Data 2008/ 2009/2010 07/08 06/07 05/06 2009 Unit Ministry Taxes 850 800 820 800 1000 1200 Compensation of employees Local Loans 2050 2000 1950 2000 2200 2100 500 400 400 800 1000 1000 Acquisition of local financial assets 5 4 2 3 10 5 Collection from payment of 5 5 3 5 10 10 Local Loans Other Revenue 830 825 810 850 800 900 Acquisition of non-financial 300 425 395 250 200 200 assets Payment of foreign Loans 700 750 700 600 500 500 Grants 320 325 270 350 500 400 Subsidies, grants and social 1750 1800 1750 1700 1800 1750 benefits Foreign Loans 1500 1400 1200 1200 1500 1500 Payment of Local Loans 600 550 450 800 900 900 Purchase of goods and services 1050 950 1050 1100 1425 1200 Collection from payment of 0 0 0 0 0 0 foreign Loans Collection from privatization ? ? ? ? ? ? Issuing of stocks 500 400 450 500 600 150 Acquisition of Foreign 1 3 2 0 0 0 financial assets Other expenses 260 350 400 170 200 175 Sales of Local financial assets 10 10 10 25 20 20 Sales of foreign financial assets 0 0 0 0 0 0 Other data: Average rate of interest for both local and foreign loans was 7.5 % for the current and last years. For the budgetary year 2009/2010 the average rate of interest is 8%. Required: Prepare the comprehensive form of the State budget for the governmental year 2009/2010. (Recording actual data is not required)

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