Government deficit down

The government deficit in the second quarter of this year reached Lm16 million, compared to Lm38.7 million for the same period last year, the National Statistics Office said yesterday. The cut was brought about by an increase of Lm14.7 million in the...

The government deficit in the second quarter of this year reached Lm16 million, compared to Lm38.7 million for the same period last year, the National Statistics Office said yesterday.

The cut was brought about by an increase of Lm14.7 million in the total revenue, mainly due to a higher intake from VAT, together with a drop of Lm8 million in total expenditure, the NSO added.

The deficit for the first six months of the year amounted to Lm62.6 million, a drop of Lm32.8 million when compared to the first half of last year. This mainly reflected a Lm31.5 million increase in total revenue, as expenditure declined by Lm1.3 million.

Sign up to our free newsletters

Get the best updates straight to your inbox:

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.