Youth commission meets

$76b deficit recorded

The Government announced today it recorded a $76 billion deficit for the five months ending August 31.   Expenditure for the period was $252.7 billion and revenue was $176.7 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 $851.8 billion as at the end of August.  
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