Cyprus’ General Government recorded a deficit of €70.4 mn (0.3% of GDP) for the period of January-February 2021, compared to a surplus of €226.0 mn (1.1% of GDP) that was recorded during the period of January-February 2020, according to the preliminary fiscal results prepared by the Statistical Service of Cyprus (CyStat).
In particular, during the period of January-February 2021, total expenditure increased by €239.0 mn (+18.8%) and amounted to €1,510.3 mn, compared to €1,271.3 mn in the corresponding period of 2020. It is noted, that this increase in expenditure is due to the support measures taken to address the effects of the Covid-19 pandemic on employment, which amounted to €94.3 mn.
Social benefits increased by €20.1 mn (+3.9%) and amounted to €536.3 mn, compared to €516.2 mn in 2020. Compensation of employees (including impu
Source: Cyprus News Agency