budgetary needs as interest rates to borrowers increase c, -::r.o ever-all ratio of domestic financin[ 71 to total e:xpenciture decreased slightly in 1981 to 8.8 per cent, as compared to 9.1 per cent in 1980. 11 . Recent Governments prospects of developments in cannot but give their economie~-the fiscal performance of African rise to concern abcut the future Despite the efforts made in 98 E/ECA /CM. 9/5 mobilizing domestic reeources through the taY. system, the total volume of resources 2.vailable to finance economic and social development is fallinf inoreasinfly short of needs. At the sarr:e time the governments face growin€ dernan(s for current eypenditure and large uncertaintie·s in the international environr.ent. Tte unfavourable eY.ternal ~::.i c climate is aggravated by the fact tre fluctuations in foreit~ trace make it impossible to count en proceeds from the ta~E.tion of international transactions. T! e outlook for develorrr.er.t in 1983 is thus far from favourable ·:o the increase in rovernment capital expenditure which is reouir~d if African counries are to meet the challenpe that lies ahead. 12. t·1onetary expansion in developinr Africa decelerated in 1981. ~he annual rate of pr<Mth of money and ouasi-money averaged 22 per cent, compared wjth 31 per cent in 1980. Growth in money supply (cefineo as currency outside banks plus n·2t cema:HJ depcsi ts) increased a~ an ave rare rate of 19 per cent during t'le same period. 13. \lhile this rate o:f increase (compiled fer 32 countries for which 1981 oata were available) indicates a ceneral slew-down for developinr Africa as a whole, eY.perience varied from one country to another. Ccmparinr 1981 with 1980, money supply decreased in 3 of the countries (M&lawi, Mauritius and Sierra Leone), in­ creaser more slowly in 8 and increased more rapicly in 21. In the latter rroup of 21 countries, the rates ranger frcm a low of 