$27.1b deficit recorded

August 30, 2013

Government expenditure for April-July amounted to $138.4 billion, with revenue of $111.3 billion, resulting in a deficit of $27.1 billion.
 
The Financial Services & the Treasury Bureau said the deficit was mainly because some major types of revenue, including salaries and profits taxes, were mostly received towards the end of a financial year.
 
Fiscal reserves stood at $ 706.8 billion at the end of July.