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Cyprus News Agency: News in English, 12-04-20

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] Public sector balance records deficit of 6.3%

  • [01] Public sector balance records deficit of 6.3%

    The overall public sector balance registered in 2011 a deficit of 1.118,9 million euros, or 6.3% of GDP, according to the preliminary data on the General Government accounts for the period October-December 2011.

    Total public sector expenditure in 2011 increased by 4.5% and total revenue by 2.3% as compared to the previous year.

    According to the Statistical Service of the Republic of Cyprus, based on the preliminary data on the General Government accounts for the period October-December 2011, the total revenue amounted to 2.060,9 million euros (4.2% increase compared to the corresponding period of 2010). Total expenditure reached 2.639,8 million (11% increase) resulting to a deficit of 578,9 million as compared to 400,5 million deficit in the corresponding period of the previous year.

    The main categories of revenue for the period October-December 2011 were: taxes on production and imports 690.6 million (5.9% decrease), of which VAT was 403,6 million (4.7% decrease), taxes on income and wealth 594,3 million (zero growth as compared to the same period of 2010). Revenue from sales of goods and services decreased by 11.7% compared to the corresponding period of the previous year.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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