Thu. Oct 22nd, 2020

The Government announced today it recorded a $232.6 billion deficit for the five months ending August 31.

Expenditure for the period was $360.1 billion and revenue was $127.5 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 $927.7 billion at the end of August.

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