Quarterly Accounts of General Government, 3rd Quarter 2016

On the basis of the preliminary data on the General Government accounts for the period July-September 2016, compiled in accordance to EU concepts and definitions (ESA 2010), total revenue amounted Euros 1.800,9 mn (2,6% increase as compared to the corresponding period of 2015), while total expenditure reached Euros 1.614,4 mn (0,5% decrease), resulting in a surplus of Euros 186,5 mn as compared to a surplus of Euros 132,0 mn in the corresponding period of the previous year.

The main categories of revenue for the period July-September 2016 were: taxes on production and imports Euros 698,9 mn (1,2% increase as compared to the corresponding quarter of 2015), of which VAT was Euros 409,6 mn (5,8% increase), and taxes on income and wealth Euros 546,3 mn (5,0% increase). Revenue from sales of goods and services increased by 8,4% as compared to the corresponding period of the previous year reaching Euros 105,8 mn.

The main categories of expenditure for the period July-September 2016 were: social transfers Euros 570,3 mn (1,5% increase), and compensation of employees (including imputed social contributions and pensions of civil servants) Euros 512,9 mn (0,4% increase). Intermediate consumption reached Euros 150,1 mn (3,0% decrease as compared to the corresponding period of the previous year).

Source: Republic of Cyprus, Ministry of Finance, Statistical Service