The true cost of the COVID-19 pandemic to the island's economy will be revealed in Tynwald later this month.
The Light Blue Book shows the impact to be in the region of £246m, split between £111m reduced Government revenue, £109m in direct support costs and £26m in other costs (for example the purchase of PPE).
Treasury Minister Alfred Cannan said: ‘The cost to the public purse of dealing with the pandemic will not be a surprise but it is well within the worst case estimates that I presented to Tynwald in July 2020".
To meet the costs, £57m was transferred from the Contingency Fund, £78m came from the National Insurance Fund and £111m was funded by reduced costs.
Mr Cannan added that despite all this, Manx reserves remain strong, standing at £1.84bn at the end of March.
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