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- Ελληνικά
Surplus of €598.3 million
The preliminary fiscal results prepared by the Statistical Office for the period January-March 2024 show a general government surplus of €598.3 million. compared to a surplus of €376.4 million for the period January-March 2023.
Revenue
Total revenue in the period January-March 2024 increased by €389.9 million. (+13.5%) and amounted to €3,282.5 million compared to €2,892.6 million in the corresponding period of 2023.
In particular, taxes on production and imports increased by €65.8 million (+6.4%) and amounted to €1,090.7 million compared to €1.024.9 million in the first quarter of 2023, of which VAT net revenue (net of refunds) increased by €69.8 million (+10.2%) to €752.5 million, compared to €682.7 million in the first quarter of 2023. Social contributions increased by €108.3 million (+12.5%) to €977.9 million compared to €869.6 million in the first quarter of 2023. Income and wealth tax revenues increased by €135.7 million (+17.4%) to €915.2 million compared to €779.5 million in the first quarter of 2023. Revenue from goods and services increased by €69.6 million (+46.8%) to €218.3 million compared to €148.7 million in the first quarter of 2023. Capital transfers increased by €6.9 million to €11.0 million compared to €4.1 million in the first quarter of 2023. Property income receivable increased by €0.2 million (+0.8%) to €24.4 million compared to €24.2 million in the first quarter of 2023. Current transfers increased by €3.4 million (+8.2%) and amounted to €45.0 million compared to €41.6 million in the corresponding quarter of 2023.
Expenditure
Total expenditure, in the period January-March 2024, increased by €168.0 million. (+6.7%) and amounted to €2,684.2 million compared to €2,516.3 million in the corresponding period of 2023.
Specifically, social benefits increased by €70.6 million (+7.0%) and amounted to €1,083.7 million compared to €1,013.1 million in the first quarter of 2023. Staff remuneration (including imputed social contributions and civil servants' pensions) increased by €113.9 million (+14.4%) to €903.7 million compared to €789.8 million in the corresponding quarter of 2023. Subsidies increased by €1.4 million (+4.3%) to €33.9 million compared to €32.5 million in the first quarter of 2023. Other current expenditure increased by €29.5 million (+16.4%) to €209.0 million compared to €179.5 million in the first quarter of 2023. Interim consumption increased by €20.9 million (+8.4%) to €270.3 million compared to €249.4 million in the first quarter of 2023.
In contrast, the capital account decreased by €61.2 million (-34.0%) to €118.6 million (€91.9 million capital expenditures and €26.7 million capital expenditures). capital transfers) compared to €179.8 million (€151.0 million capital investments and €28.8 million capital transfers) in the corresponding quarter of 2023.
Property income payable decreased by €7.1 million (-9.9%) and was limited to €65.0 million. compared to €72.2 million in the first quarter of 2023.
| Table |
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[TR] [TD]
Macroeconomic Indicators General Government
[/TD] [TD]
Euro (millions)
[/TD] [TD]Change
[/TD] [/TR] [TR] [TD]
Fiscal
Results
[/TD] [TD]Variance
[/TD] [TD](%)
[/TD] [/TR] [TR] [TD]T1 2023
[/TD] [TD]T1 2024
[/TD] [TD]
T1 2024/23
[/TD] [TD]T1 2024/23
[/TD] [/TR] [TR] [TD]
Total Revenue
[/TD] [TD]2.892.6
[/TD] [/TD] [TD]3.282,5
[/TD] [/TD] [TD]389,9
[/TD] [TD]13,5
[/TD] [/TD] [/TR] [TR] [TD]Taxes on Production and Imports
[/TD] [/TD] [TD]1.024,9
[/TD] [TD]1.090,7
[/TD] [TD]65,8
[/TD] [TD]6,4
[/TD] [/TD] [/TR] [TR] [TD]of which VAT
[/TD] [TD]682.7
[/TD] [TD]752.5
[/TD] [TD]69.8
[/TD] [TD]10.2
[/TD] [/TR] [TR] [TD]Current Taxes on Income and Wealth etc.
[/TD] [TD]779.5
[/TD] [TD]915.2
[/TD] [TD]135.7
[/TD] [TD]17,4
[/TD] [/TR] [TR] [TD]Social Contributions
[/TD] [TD]869.6
[/TD] [TD]977.9
[/TD] [TD]108.3
[/TD] [TD]12,5
[/TD] [/TR] [TR] [TD]Other Current Revenue
[/TD] [TD]214.5
[/TD] [TD]287.7
[/TD] [TD]73.2
[/TD] [TD]34,1
[/TD] [/TR] [TR] [TD]Property income receivable
[/TD] [TD]24.2
[/TD] [TD]24.4
[/TD] [TD]0.2
[/TD] [TD]0,8
[/TD] [/TR] [TR] [TD]Current transfers
[/TD] [TD]41.6
[/TD] [TD]45.0
[/TD] [TD]3,4
[/TD] [TD]8.2
[/TD] [/TR] [TR] [TD]Revenue from services
[/TD] [TD]148.7
[/TD] [TD]218,3
[/TD] [TD]69.6
[/TD] [TD]46.8
[/TD] [/TD] [/TR] [TR] [TD]Capital Transfers
[/TD] [TD]4,1
[/TD] [TD]11.0
[/TD] [TD]6.9
[/TD] [TD]168.3
[/TD] [/TR] [TR] [TD]
Total Expenditure
[/TD] [TD]2.516,3
[/TD] [TD]2.684.2
[/TD] [TD]168.0
[/TD] [TD]6.7
[/TD] [/TD] [/TR] [TR] [TD]Total Current Expenditure
[/TD] [TD]2,336.5
[/TD] [TD]2.565.6
[/TD] [TD]229.2
[/TD] [TD]9.8
[/TD] [/TR] [TR] [TD]Interim Consumption
[/TD] [TD]249.4
[/TD] [TD]270.3
[/TD] [TD]20.9
[/TD] [TD]8,4
[/TD] [/TR] [TR] [TD]Staff remuneration
[/TD] [TD]789.8
[/TD] [TD]903,7
[/TD] [TD]113.9
[/TD] [TD]14.4
[/TD] [/TD] [/TR] [TR] [TD]Social benefits
[/TD] [TD]1.013,1
[/TD] [TD]1.083,7
[/TD] [TD]70,6
[/TD] [TD]7,0
[/TD] [/TD] [/TR] [TR] [TD]Property income payable
[/TD] [TD]72,2
[/TD] [TD]65,0
[/TD] [TD]-7,1
[/TD] [TD]-9,9
[/TD] [/TR] [TR] [TD]Subsidies
[/TD] [TD]32.5
[/TD] [TD]33.9
[/TD] [TD]1,4
[/TD] [TD]4.3
[/TD] [/TR] [TR] [TD]Other current expenditure
[/TD] [TD]179,5
[/TD] [TD]209.0
[/TD] [TD]29.5
[/TD] [TD]16.4
[/TD] [/TR] [TR] [TD]Capital Expenditure
[/TD] [TD]179.8
[/TD] [TD]118.6
[/TD] [TD]-61,2
[/TD] [TD]-34.0
[/TD] [/TD] [/TR] [TR] [TD]Gross fixed capital formation
[/TD] [TD]151.0
[/TD] [TD]91.9
[/TD] [TD]-59.1
[/TD] [TD]-39,1
[/TD] [/TD] [/TR] [TR] [TD]Other capital transfers
[/TD] [TD]28.8
[/TD] [TD]26.7
[/TD] [TD]-2.1
[/TD] [TD]-7,3
[/TD] [/TR] [TR] [TD]
Fiscal Surplus (+)
/Deficit (-)
[/TD] [TD]376,4
[/TD] [TD]
598.3
[/TD] [TD]221.9
[/TD] [TD] [/TD] [/TD] [/TR] [TR] [TD]% of GDP
[/TD] [TD]1,3%
[/TD] [TD]1,9%
[/TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR]
Methodological Information
Coverage and Methodology
Information on the sequence of accounts for the general government sector is provided. The analysis covers the main categories of revenue and expenditure and separates revenue and expenditure (expenditure) into current and capital, respectively.
Revenue and expenditure for General Government covers all sub-sectors of General Government based on the European System of Accounts 2010 (ESA 2010).
Data source
Financial data are collected from. [/LIST]
Any methodological adjustments or corrections based on the European System of Accounts 2010 (ESA 2010) are taken into account to complete the estimates.
For more information, interested parties can visit theStatistics Service Portal, under Public FinanceCYSTAT-DB(Database), Predefined Tables (Excel), Methodological Information or contact Ms. Michael Panagiota: Tel:+35722602186, Tel: pmichael@cystat.mof.gov.cy
The Predefined Tables in Excel format include data up to the first quarter of 2023. For the second quarter of 2023 and thereafter, the update will be done only in the CYSTAT-DB Database.
(AF)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
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