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Capital expenditure expressed as a percentage of direct expenditure in public educational institutions (instructional and non-instructional). Financial aid to students and other transfers are excluded from direct expenditure. Capital expenditure is for education goods or assets that yield benefits for a period of more than one year. It includes expenditure for construction, renovation and major repairs of buildings and the purchase of heavy equipment or vehicles. Divide capital expenditure in public institutions by total expenditure (current and capital) in public institutions, and multiply by 100. For more information, consult the UNESCO Institute of Statistics website: http://www.uis.unesco.org/Education/