Government generates €0.5bn surplus in 10 months

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Government generates €0.5bn surplus in 10 months
 © BusinessMail 2017
By Stelios Orphanides

The general government generated in the first ten months of the year a fiscal surplus on a cash basis of €498m compared to a €138.9m surplus in the respective period of 2016, the finance ministry said.

The increased surplus was mainly on an increase in revenue by €475m to €5.7bn, which more than offset an increase in spending by €82m to €5.3bn, the finance ministry said. Revenue rose mainly on a €255m rise in indirect taxes, including €187m from value added tax (VAT). The increase in spending was mainly on a €47m increase in wages and salaries and €42m in...


Government generates €0.5bn surplus in 10 months


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