The fiscal deficit in 2012/13 is estimated to have declined to 3.7 percent of GDP, down from 4.6 percent in 2011/12, due to strong revenue performance. There were expenditure increases on account of increased civil service salaries and higher allocations to education and health. However, these were compensated for by higher gas and tax revenues. Tax revenues increased from 3.9 percent of GDP in 2011/12 to 6.4 percent in 2012/13 due to exchange rate revaluation following the introduction of a managed float exchange rate system on April 1, 2012, and also on account of improved tax administration.