EPOC Macro-Economic Update

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Co chairman of the Economic Programme Oversight Committee, EPOC, Richard Byles, says the country recorded a primary surplus target of $69.4-billion for the first ten months of the 2015-2016 fiscal year.

This was marginally below the target of $71-billion.

At the end of February, the Net International Reserves, NIR, stood at USD$2.23-billion, over USD$600-million more than the figure at the end of January.

Revenue and grants for the first ten months of the 2015-2016 fiscal year came in at $978-million less than budgeted, despite continued good performance in tax collections.

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