about
7.7
and
6.7
percent
in
2007
but
is
expected
to
increase
to
about
9.8
and
7.3
percent
in
2008
respectively.
Table
4.1
provides
details
of
real
GDP
growth.
Growth
in
the
service
sector
exceeded
the
target
of
6.7
percent
in
2007.
However,
that
of
industry
fell
below
the
expected
growth
of
7.7
percent
in
2007.
The
mining,
quarrying
and
the
construction
sector
has
been
the
main
sub
sectors
that
drive
industrial
growth.
Table
4.1:
Trends
in
Real
GDP
and
GDP
Per
Capita
Growth
2005
2006
2007*
2007**
2008***
Real
GDP
Per
capita
growth
Real
GDP
Growth
3.5
5.8
3.9
6.2
4
6.5
6.3
7.0
Agriculture
Industry
4.1
5.6
4.5
6.2
6.1
7.7
4.3
7.4
5.0
9.8
Service
Net
Indirect
Tax
5.4
4.4
5.5
4.5
6.7
4.4
8.2
4.4
7.3
6.0
Source:
MOFEP,
Budget
Statements
Real
GDP
growth
rate
based
on
implicit
population
growth
rate
of
2.3
percent
calculated
from
GSS.
*-‐
target,
**
-‐
Projected
outturn,
***
-‐
projections
Fiscal
policies
in
2007
focused
on
maintaining
and
improving
the
debt
situation
inspite
of
the
oil
price
hikes
and
the
energy
crises
as
well
as
mobilizing
domestic
and
foreign
resources
to
implement
activities
in
the
GPRS
II.
Provisional
estimates
indicate
that
the
overall
cash
balance
was
in
a
deficit
of
8.1
percent
of
GDP
in
2007.
This
is
higher
than
the
budget
estimate
of
5.7
percent
of
GDP.
Table
4.2:
Selected
Government
Fiscal
indicators,
2000-‐2007,
percent
of
GDP
2000
2001
2002
2003
2004
2005
2006
2007*
Total
Receipts
36.53
35.69
32.35
33.47
36.01
36.77
37.70
42.23
Total
Revenue
Tax
Revenue
Non
tax
revenue
17.72
16.26
1.46
18.16
17.25
0.91
18.43
20.12
17.9
19.56
0.53
0.56
23.81
21.81
1.42
23.87
20.76
1.91
22.25
25.52
20.25
22.87
0.8
2.55
Grants
Other
receipts
2.12
16.69
6.91
10.62
3.19
4.78
10.73
8.57
6.19
6.45
5.26
4.53
5.53
9.92
Total
Payments
36.52
35.7
32.34
33.7
36
36.77
37.70
44.82
66
5.07
11.63