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- Ελληνικά
Surplus of €720.0 million
The preliminary fiscal results prepared by the Statistical Office for the period July - September 2023 show a general government surplus of €720.0 million. compared to a surplus of €774.1 million for the period July - September 2022.
Revenue
Total revenue, in the period July - September 2023, increased by €133.4 million. (+4.0%) and amounted to €3,461.8 million compared to €3,328.4 million in the corresponding period of 2022.
In particular, taxes on production and imports increased by €22.5 million (+1.9%) and amounted to €1,217.2 million compared to €1.194.7 million in the third quarter of 2022, of which net VAT revenue (net of refunds) decreased by €6.5 million (-0.8%) to €820.7 million, compared to €827.2 million in the third quarter of 2022. Social contributions increased by €95.9 million (+12.7%) to €852.0 million compared to €756.1 million in the third quarter of 2022. Income and wealth tax revenues increased by €56.8 million (+5.8%) to €1,038.7 million compared to €981.9 million in the corresponding quarter of 2022. Revenue from goods and services increased by €39.4 million (+20.7%) to €229.8 million compared to €190.4 million in the third quarter of 2022.
In contrast, capital transfers decreased by €61.3 million (-62.1%) to €37.4 million compared to €98.7 million in the corresponding quarter of 2022. Property income receivable decreased by €18.9 million (-41.2%) and was limited to €26.9 million compared to €45.8 million in the third quarter of 2022. Current transfers decreased by €1.1 million (-1.8%) and were limited to €59.8 million compared to €60.9 million in the corresponding quarter of 2022.
Expenditure
Total expenditure, in the period July - September 2023, increased by €187.5 million. (+7.3%) and amounted to €2,741.8 million compared to €2,554.3 million in the corresponding period of 2022.
Specifically, social benefits increased by €72.2 million (+7.4%) and amounted to €1,042.1 million compared to €969.9 million in the third quarter of 2022. Staff remuneration (including imputed social contributions and civil servants' pensions) increased by €98.9 million (+13.4%) to €835.2 million compared to €736.3 million in the corresponding quarter of 2022. Subsidies increased by €7.0 million (+31.0%) to €29.6 million compared to €22.6 million in the third quarter of 2022. Other current expenditure increased by €43.8 million (+40.9%) to €150.7 million compared to €106.9 million in the corresponding quarter of 2022.
The capital account decreased by €4.7 million (-1.6%) to €284.6 million (€239.1 million capital expenditure and €45.5 million capital expenditure).
In contrast, property income payable decreased by €1.8 million (-1.6%) to €116.5 million compared to €118.3 million in the third quarter of 2022 (€238.6 million capital investments and €50.7 million capital transfers).
In contrast, property income payable decreased by €1.8 million (-1.6%) to €116.5 million compared to €118.3 million in the third quarter of 2022. Interim consumption decreased by €27.9 million (-9.0%) to €283.1 million compared to €311.0 million in the third quarter of 2022.
| Table |
[TR] [TD]
Macroeconomic Indicators of General Government
[/TD] [TD]Euro (millions)
[/TD] [TD]Change
[/TD] [/TR] [TR] [TD]Fiscal
Results
[/TD] [TD]Variance
[/TD] [TD](%)
[/TD] [/TR] [TR] [TD]T3 2022
[/TD] [TD]T3 2023
[/TD] [TD]
T3 2023/22
[/TD] [TD]T3 2023/22
[/TD] [/TR] [TR] [TD]Total Revenue
[/TD] [TD]3.328.4
[/TD] [/TD] [TD]3,461.8
[/TD] [TD]133.4
[/TD] [TD]4.0
[/TD] [/TR] [TR] [TD]Taxes on Production and Imports
[/TD] [/TD] [TD]1.194,7
[/TD] [TD]1,217,2
[/TD] [TD]22,5
[/TD] [TD]1,9
[/TD] [/TR] [TR] [TD]of which VAT
[/TD] [TD]827.2
[/TD] [TD]820.7
[/TD] [TD]-6.5
[/TD] [TD]-0.8
[/TD] [/TR] [TR] [TD]Current Taxes on Income and Wealth etc.
[/TD] [TD]981.9
[/TD] [TD]1.038.7
[/TD] [TD]56.8
[/TD] [TD]5.8
[/TD] [/TR] [TR] [TD]Social contributions
[/TD] [TD]756,1
[/TD] [TD]852.0
[/TD] [TD]95.9
[/TD] [TD]12.7
[/TD] [/TR] [TR] [TD]Other Current Income
[/TD] [TD]297,0
[/TD] [TD]316.5
[/TD] [TD]19.5
[/TD] [TD]6.6
[/TD] [/TR] [TR] [TD]Property income receivable
[/TD] [TD]45,8
[/TD] [TD]26.9
[/TD] [TD]-18.9
[/TD] [TD]-41,2
[/TD] [/TR] [TR] [TD]Current transfers
[/TD] [TD]60.9
[/TD] [TD]59.8
[/TD] [TD]-1,1
[/TD] [TD]-1.8
[/TD] [/TR] [TR] [TD]Revenue from services
[/TD] [TD]190.4
[/TD] [TD]229,8
[/TD] [TD]39.4
[/TD] [TD]20.7
[/TD] [/TD] [/TR] [TR] [TD]Capital Transfers
[/TD] [TD]98,7
[/TD] [TD]37.4
[/TD] [TD]-61.3
[/TD] [TD]-62.1
[/TD] [/TR] [TR] [TD]Total Expenditure
[/TD] [/TD] [TD]2.554,3
[/TD] [TD]2.741.8
[/TD] [TD]187.5
[/TD] [TD]7.3
[/TD] [/TD] [/TR] [TR] [TD]Total Current Expenditure
[/TD] [TD]2,265.0
[/TD] [TD]2.457.2
[/TD] [TD]192.2
[/TD] [TD]8.5
[/TD] [/TR] [TR] [TD]Interim Consumption
[/TD] [TD]311.0
[/TD] [TD]283.1
[/TD] [TD]-27.9
[/TD] [TD]-9,0
[/TD] [/TR] [TR] [TD]Staff remuneration
[/TD] [TD]736.3
[/TD] [TD]835.2
[/TD] [TD]98,9
[/TD] [TD]13.4
[/TD] [/TR] [TR] [TD]Social benefits
[/TD] [TD]969.9
[/TD] [TD]1.042,1
[/TD] [TD]72,2
[/TD] [TD]7,4
[/TD] [/TR] [TR] [TD]Property income payable
[/TD] [TD]118,3
[/TD] [TD]116.5
[/TD] [TD]-1.8
[/TD] [TD]-1,6
[/TD] [/TR] [TR] [TD]Subsidies
[/TD] [TD]22.6
[/TD] [TD]29.6
[/TD] [TD]7,0
[/TD] [TD]31.0
[/TD] [/TR] [TR] [TD]Other current expenditure
[/TD] [TD]106,9
[/TD] [TD]150.7
[/TD] [TD]43.8
[/TD] [TD]40.9
[/TD] [/TR] [TR] [TD]Capital Expenditure
[/TD] [TD]289.3
[/TD] [TD]284.6
[/TD] [TD]-4,7
[/TD] [TD]-1.6
[/TD] [/TD] [/TR] [TR] [TD]Gross fixed capital formation
[/TD] [TD]238.6
[/TD] [TD]239.1
[/TD] [TD]0.5
[/TD] [TD]0,2
[/TD] [/TR] [TR] [TD]Other capital transfers
[/TD] [TD]50.7
[/TD] [TD]45.5
[/TD] [TD]-5.2
[/TD] [TD]-10,3
[/TD] [/TR] [TR] [TD]
Fiscal Surplus (+)/Deficit (-)
[/TD] [TD]774,1
[/TD] [TD]
720.0
[/TD] [TD]-54.1
[/TD] [TD] [/TD] [/TD] [/TR] [TR] [TD]% of GDP
[/TD] [TD]2,8%
[/TD] [TD]2,4%
[/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.
The revenue and expenditure for General Government covers all sub-sectors of General Government based on the European System of Accounts 2010 (ESA 2010).
Source of data
Economic data are collected from:
- The Integrated Administrative and Financial Information System of the General Accounting Office (FIMAS) for Central Government, Off-Budget Funds and Social Security Organisations,
- Budget implementation of Municipalities and Communities,
- Budget implementation of Semi-Governmental Organisations.
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 the Statistical Service Portal, under Public Finance, CYSTAT-DB(Database), Predefined Tables (Excel), Methodological Information, or contact Ms Panagiota Michael at 22602186 or at 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, updates will only be made to the CYSTAT-DB Database.
(GG/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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