$183.7b deficit recorded

2020-09-02 03:30:38

The Government today announced it recorded a $183.7 billion deficit for the four months ending July 31.

Expenditure for the period was $289.8 billion and revenue was $106.1 billion.

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

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

Fiscal reserves stood at $976.6 billion at the end of July.

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