Published:
Photo by Meriç Dağlı on Unsplash
Gov’t logs $71.9b deficit
The figure was only for the first two months of the current financial year.
The government recorded a deficit of $71.9b in the first two months of the current financial year.
The government said it recorded a deficit mainly because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year.
From April to May, the government also posted an expenditure of $124.1b and revenue of $52.2b.
Meanwhile, fiscal reserves stood at $762.9b by the end of May.
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