General Government recorded a fiscal deficit of €187.9 mln for the period of January-March 2021, as compared to a surplus of €226.9 mln that was recorded during the period of January-March 2020, according to preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT).
During the first quarter an increase in expenditure and a decrease in revenue was recorded, mainly due to the measures taken to support enterprises and the suspension of various sectors of the economy, respectively, as a result of the Covid-19 pandemic.
Increased amounts in specific categories of expenditure and revenue are partly attributed to the full implementation of the National Health System as of 01.06.2020.
During the period of January-March 2021, total expenditure increased by €341.
Source: Cyprus News Agency