$20.8b deficit recorded

The Government announced today it recorded a $20.8 billion deficit for the two months ending May 31.   Expenditure for the period was $97.1 billion and revenue was $76.3 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.   Fiscal reserves stood at $907 billion at the end of May.
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