Gen­eral gov­ern­ment ac­count records 147.2 mln sur­plus in Q1

Financial Mirror (Cyprus) - - FRONT PAGE -

The Gen­eral Gov­ern­ment ac­counts recorded a sur­plus of EUR 147.2 mln in the first quar­ter of the year, com­pared to a deficit of EUR 19.0 mln in the cor­re­spond­ing pe­riod of the pre­vi­ous year, the Sta­tis­ti­cal Ser­vice said on Mon­day.

On the ba­sis of pre­lim­i­nary data, the to­tal rev­enue amounted to EUR 1,626.8 mln, up 8.4% com­pared to the cor­re­spond­ing pe­riod of 2015, while to­tal ex­pen­di­ture reached EUR 1,479.6 mln, down by 2.7%, the Sta­tis­ti­cal Ser­vice an­nounced.

The main cat­e­gories of rev­enue for the pe­riod of Jan­uary-March were: taxes on pro­duc­tion and im­ports EUR 604.2 mln (0.2% in­crease as com­pared to the cor­re­spond­ing quar­ter of 2015), of which VAT was EUR 334.1 mln (4.9% de­crease), and taxes on in­come and wealth EUR 386.8 mln (1.5% in­crease). Rev­enue from sales of goods and ser­vices in­creased by 1.6%, com­pared to the cor­re­spond­ing pe­riod of the pre­vi­ous year reach­ing EUR 106.8 mln.

The main cat­e­gories of ex­pen­di­ture for the pe­riod were: so­cial transfers EUR 587.4 mln (7.9% in­crease), and com­pen­sa­tion of em­ploy­ees (in­clud­ing im­puted so­cial con­tri­bu­tions and pen­sions of civil ser­vants) of EUR 500.1 mln (5.2% de­crease).

In­ter­me­di­ate con­sump­tion reached EUR 118.7 mln (1.5% in­crease as com­pared to the cor­re­spond­ing pe­riod of the pre­vi­ous year).

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