Government spending for the two months ending May amounted to $37.6 billion with revenue at $39.2 billion, leaving a surplus of $1.6 billion.

The Financial Services & the Treasury Bureau said the consolidated surplus of $1.6 billion for the period ending May 31 was mainly due to receipts of $13.2 billion in land premiums, mainly from private treaty grants for railway projects.

Despite the consolidated surplus of $1.6 billion, there was an operating deficit of $5.8 billion for the period.