Government posts a €219.1 million fiscal surplus in Q3 – Cystat

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By Stelios Orphanides

The government posted a 219.1 million euros fiscal surplus in the third quarter of the year, compared to a 83.5 million euros deficit a year before, on a strong rise of revenue accompanied by a considerable reduction in spending, the statistical service said.
For January to September, the government posted a 199.6 million euros surplus, Cystat said in a statement on its website today.
In the third quarter, revenue rose 9.3 per cent to 1.9 billion euros compared to a year before, while spending fell 8 per cent to 1.6 billion euros, the statement said.
Third quarter indirect tax revenue rose an annual 8.7 per cent to 707.2 millon euros while direct taxes rose 3.5 per cent to 548.9 million euros, Cystat said. In July to September, overall public payroll fell 17 per cent to 516.4 million euros compared to a year ago, while social transfers fell 0.3 per cent to 611.6 million euros.

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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]