Fiscal deficit widens by 27 percent over first half

The treasury deficit in the first six months of 2012 totaled $1.1 billion, up from $864 million in the same period last year. The primary surplus fell to $772 million, from $1.1 billion.

Total tax revenues increased by 9.25 percent y-o-y to $3.7 billion. Customs tax revenues rose by 2.4 percent, to $725 million, while VAT revenues increased by 8.5 percent to $1.1 billion.

On the expenses side, transfers to EDL grew by 43 percent to around $1 billion.