Government surplus up 70% in January to May, Cystat says

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Government surplus up 70% in January to May,...
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By Stelios Orphanides

The government’s deficit rose from January to May by 70 per cent to €386.9 million compared with the same period the year before on increased revenue, the statistical service said.

Total revenue in the first five months of the year rose by an annual 7.5 per cent, or €217m, to €2.9 billion, Cystat said in a statement on its website on Friday. The higher revenue resulted mainly from a 21 per cent increase in indirect taxes to €1.3bn, including 15 per cent in value added tax (VAT) collection to €816.8m. Direct tax revenue rose by...


This article was automatically added to our system 29-6-2018

Government surplus up 70% in January to May, Cystat says


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Article Tags: government, surplus, january, cystat,