The Government today announced that it recorded a $34.8 billion deficit for the first month of the current financial year.

Expenditure for the period was $69.6 billion and revenue was $34.8 billion, resulting in a deficit of $34.8 billion.

The Government explained that the deficit in April 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 $800 billion at the end of April.