FRIDAY, JUNE 30, 1978
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GOVERNMENT ACCOUNTS FOR MARCH 1978
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THE GOVERNMENT ACCOUNTS FOR THE MONTH OF MARCH, 1978, SHOW A DEFICIT OF $161 MILLION, COMPARED WITH A SURPLUS OF $28.6 MILLION FOR THE SAME MONTH LAST YEAR.
REVENUE AND RECEIPTS FOR THE MONTH AMOUNTED TO $1,425.5 MILLION AND TOTAL EXPENDITURE TO $1,586.5 MILLION.
REVENUE AND RECEIPTS FOR THE FINANCIAL YEAR 1977-78 TOTALLED $10,205.7 MILLION (EXCLUDING THE DRAW-DOWN OF A LOAN FACILITY AMOUNTING TO $26.9 MILLION) AND TOTAL EXPENDITURE WAS $8,996.9 MILLION, GIVING A FINAL SURPLUS FOR THE YEAR OF $1,208.8 MILLION,
WINDING UP THE BUDGET DEBATE IN APRIL, THE FINANCIAL SECRETARY PREDICTED A SURPLUS OF $1,080 MILLION, WITH TOTAL REVENUE AND RECEIPTS AT AN ESTIMATED $10,063 MILLION AND TOTAL EXPENDITURE AT AN ESTIMATED $8,983 MILLION,
COMMENTING ON THE FINAL RESULT OF GOVERNMENT REVENUE AND EXPENDITURE, A GOVERNMENT SPOKESMAN SAID THAT, WHILE ACTUAL EXPENDITURE HAD TURNED OUT TO EE VERY CLOSE TO THE PREDICTION, REVENUE WAS HIGHER THAN EXPECTED, DUE MAINLY TO BETTER YIELDS FROM DUTIES, RATES, MOTOR VEHICLE TAXES, AND LAND SALES.
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