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State stares at massive revenue shortfall amid debt pressure

Commercial banks reported double-digit growths in profitability for 2022, bucking the trend of a slowing economy. [Elvis Ogina, Standard]

The government is on the brink of missing its revenue collection target for the current financial year that ends in June this year, State data now shows.

This could morph into a financial crisis for the already cash-strapped government.

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