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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.