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Fiscal reserves top $735b

July 31, 2014

Government fiscal reserves stood at $735.8 billion as at June 30, compared to $755.7 billion three months before, the Financial Services & the Treasury Bureau announced today.

 

Announcing the financial results for the three months ended June 30, the bureau noted there was a $19.9 billion deficit in June as expenditure for the period amounted to $87.1 billion, and revenue to $67.2 billion.

 

The deficit was mainly because major types of revenue, including salaries and profits taxes, are mostly received towards the end of the financial year.



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