Section 4

“borrowing” means loans raised or moneys received under the Acts as specified in the Second Schedule;

“Committee” means the Fiscal Policy Committee established under section 28;

“debt” means all accumulated borrowings made by the Government;

“debt service charges” means any interest or profit rate and other expenses incurred in connection with the borrowing for which the Government is liable and is charged to the Federal

Consolidated Fund;

“development expenditure” means moneys applied for the purposes specified in the First Schedule of the Development

Funds Act 1966 [Act 406];

“economic indicator” means an indicator used in preparing a forecasted fiscal position, including but not limited to gross domestic product, commodity prices and foreign currency exchange rate;

“financial guarantee” means any guarantee given under subsection 14(1) of the Financial Procedure Act 1957 [Act 61], section 2 of the Loan Guarantee Act 1972 [Act 66], subsection 2(1)

of the Loans Guarantee (Bodies Corporate) Act 1965 [Act 96] and section 2 of the Loan Guarantee Act 1963 [Act 412];

“financial year” means a period of twelve months ending on the 31st day of December in any year;

“fiscal balance” means the difference between total revenue and total expenditure;