Budget in Q1 surplus but FY deficit still looms
Wednesday, December 13, 2023 | 440 Views |
Major crossing: SACU receipts were one of the major contributors to the Q1 deficit PIC: MBONGENI MGUNI
Figures from the Ministry show that the surplus in the first quarter of the 2023-24 financial year, a period which covers the months between April and June, was powered largely by Southern African Customs Union (SACU) receipts and mineral revenues.
The P5.2 billion surplus compares with a surplus of just P645.3 million for the first quarter of 2022-23 and a deficit of P1.4 billion for the same period in 2021-22.
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