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