$47.4B SURPLUS RECORDED

28-2-2022

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The Government announced today it recorded a $47.4 billion surplus for the 10 months ending January 31.

Expenditure for the period was $541.5 billion and revenue was $609.9 billion. Net proceeds of $29.1 billion were also booked from the issuance of green bonds.

Fiscal reserves stood at $1,025.3 billion as at the end of January.

The Government said the surplus was mainly due to the receipt of land premiums, profits tax and stamp duties.

Taking into account the forecast revenue and expenditure for the remaining two months, the surplus for 2021-22 financial year is expected to be $18.9 billion and the fiscal reserves are estimated to be $946.7 billion as at the end of March.




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