Published:
November deficit plunges to $11.7b
Thanks to the $24.8b surplus.
According to the Financial Services & the Treasury Bureau, the Government had a surplus of $24.8 billion in November, thereby reducing the deficit for the eight months ending November 30 to $11.7 billion.
Expenditure for the period amounted to $251.9 billion, with revenue amounting to $240.2 billion.
The improved financial results in November were mainly due to the collection of profits tax. The revised estimates for the current financial year will be published along with the 2013-14 Budget on February 27, 2013.
The Government’s fiscal reserves stood at $657.4 billion as at the end of November.
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