Public deficit reaches $3.3 billion

Total expenditure soars

Total public deficit stood at $3.3 billion at end-September 2013, representing 32 percent of the total expenditure, according to a report by the Ministry of Finance. The deficit ratio was 22 percent at end September 2012.

The total primary surplus contracted by $1.2 billion, representing 5.3 percent of overall expenditure.

Total Budget and Treasury revenues collected during the first nine months of 2013 reached $7 billion, down by 2.24 percent compared to the same period last year.

Total expenditure, including Budget and Treasury, reached $10.31 billion, compared to about $9.3 billion last year. Total expenditure excluding public debt servicing reached $7.6 billion compared to $6.57 billion at end-September 2012.