$71.9B DEFICIT LOGGED
30-6-2023
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The Government today announced that it recorded a $71.9 billion deficit for the first two months of the current financial year.
Expenditure for April and May was $124.1 billion, compared to revenue of $52.2 billion.
The Government explained that the deficit was mainly due to the fact that some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year.
Fiscal reserves stood at $762.9 billion at the end of May.
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