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Photo by Manson Yim on Unsplash
Gov’t deficit hits $183b
The government took into account the proceeds of $20b received from the issuance of green bonds.
The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.
There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.
In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Meanwhile, fiscal reserves stood at $774.2b by the end of August.
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