Published:
Government logs $177.7b deficit in H1
The government expenditure was $355.6b from April to September.
The government revealed that its deficit was $177.7b for the first six months of 2023.
Expenditure for April to September was at $355.6b and revenue was $131.3b. A deficit was reported after taking into account the proceeds of $46.6b garnered from the issuance of green bonds.
The Government said the deficit was mainly "because some major types of revenue, including salaries and profits taxes, are mostly received towards the end of a financial year."
Fiscal reserves remained at $657.1b at the end of September.
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