The fiscal deficit narrowed 24 percent to $3.76 billion in 2017 as total revenues increased at a greater rate than expenditures, according to the Ministry of Finance (MoF).
Total revenues, mainly driven by tax revenues, jumped 16 percent to $10.8 billion while total spending rose nine percent to $14.1 billion.
Tax revenues surged by $1.2 billion or 17 percent. Non-tax revenues increased by $315 million or 14 percent.
The decrease in the fiscal deficit was the result of an i...
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