Government generates €200.9m fiscal surplus in Q1

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Government generates €200.9m fiscal surplus in Q1
 © BusinessMail 2017
By Stelios Orphanides

The government generated a fiscal surplus of €200.9m in the first quarter of the year, compared to a surplus of €146.3m a year before, mainly on increased revenue, the statistical service said.

Total revenue rose an annual 4.9 per cent to €1.7bn while spending rose 1.7 per cent to €1.5bn in January to March, Cystat said in a statement on its website on Monday.

Revenue from tax on production and imports rose 13 per cent in the first three months of the year to €680m, value added tax 18 per cent to €395.1m, social security contributions 9.1 per cent to €419.7m, income...


Government generates €200.9m fiscal surplus in Q1


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