1100MM ffi­iss­c­caall ssu­ur­rp­pllu­uss aatt

Financial Mirror (Cyprus) - - FRONT PAGE -

The gen­eral gov­ern­ment ac­counts recorded a sur­plus of EUR 274.9 mln in the Jan­uary-Oc­to­ber, ac­cord­ing to the Min­istry of Fi­nance, whereby the over­all sur­plus reached 1.58% of GDP com­pared with a deficit of 2.62% or EUR 474.8 mln in the cor­re­spond­ing pe­riod of 2013.

The pri­mary bal­ance (ex­clud­ing debt ser­vic­ing ex­pen­di­ture) for Jan­uary-Oc­to­ber soared to EUR 679.8 mln, com­pared with 15.8 mln in Jan­uary-Oc­to­ber 2013.

The im­prove­ment is mainly due a 9.2% re­duc­tion in pub­lic spend­ing. Pub­lic rev­enue in the 10-month pe­riod reached EUR 5.37 bln, up 4.56% from 5.14 bln in the same pe­riod of 2013.

Over­all tax rev­enue in­creased by 3.72% in Jan­uary-Oc­to­ber to EUR 4.51 bln from 4.34 bln in the cor­re­spond­ing pe­riod of 2013.

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