Government generates €05bn surplus in 10 months

first_imgThe 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 interest payments, as a result of bond buybacks.The primary surplus, which excludes the government’s cost of borrowing, rose to €908m in the January to October from €525.7m a year before, the ministry said.You May LikeThrone: Free Online GamesIf You’re Over 40 And Own A Computer, This Game Is A Must!Throne: Free Online GamesUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoYahoo SearchThese SUVs Are The Cream Of The Crop. Research Best Compact SUV CarYahoo SearchUndo Concern over falling tourism numbersUndoTurkish Cypriot actions in Varosha ‘a clear violation’ of UN resolutions, Nicosia saysUndoOur View: Argaka mukhtar should not act as if he owns the beachUndoby Taboolaby Taboolalast_img read more

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