Revenue gains expand fiscal space for growth

Revenues have improved in the absence of new tax measures, the Finance department said over the weekend, giving the government—criticized for not spending enough—added leeway to boost economic growth in the final months of the year.

Tax collections as a percentage of gross domestic product (GDP) improved to 14.22 percent as of end-September, the Finance department said in its latest Economic Bulletin, picking up from 14 percent in the same period last year.