$268.8b deficit recorded

January 29, 2021

The Government today announced it recorded a $268.8 billion deficit for the nine months ending December 31 last year.


Expenditure for the period was $620.1 billion and revenue was $351.3 billion.


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


It was also due to the Cash Payout Scheme payments and measures under the Anti-epidemic Fund.


Fiscal reserves stood at $891.5 billion at the end of December.

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