The annual budget is prepared by the Ministry of Finance and presented to Parliament for approval each year, except during periods of martial law, when the budget has been announced by the martial law administration. It is divided into a revenue budget and a development budget, on both the receipts and the expenditures sides.

The revenue budget pays for the normal functioning of the government and is intended to be fully financed from domestically generated sources. The fiscal year (FY--see Glossary) 1988 revenue budget was based on anticipated receipts of about US$1.6 billion, or a...

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