A $3 billion deficit has been recorded for the eight-month period ending November 31.

Spending for the April-to-November period was $158.6 billion with $155.6 billion in revenue recorded. The deficit has taken account of the $6 billion Toll Revenue Bond and $20 billion in Government bonds and notes issued in May and July.

The improvement recorded in November was mainly due to proceeds from sale of land and profits tax receipts. But it is too early to draw any conclusion about the deficit for the full year.