According to data released by the statistical service, on the basis of the preliminary data on the General Government accounts for the period April-June 2014, total revenue amounted to €1612.2m – a 1.0% increase compared to the corresponding period of 2013 – while total expenditure reached €1623.8m, – a 10.1% decrease – resulting in a deficit of €11.6m compared to €209.5m in the corresponding period of the previous year.

The main categories of revenue for the period April-June 2014 were: taxes on production and imports €579.8m – a 17.2% decrease – of which VAT was €335.4m (a 18.5% decrease), taxes on income and wealth €302.9m – a 17.4% decrease.

Revenue from sales of goods and services increased by 7.0% compared to the corresponding period of the previous year reaching €99.6m.

During the period April-June 2014, revenue from dividends amounted to €181.4m compared to €89.4m received during 2013 and recorded in the period January-March 2013.


The main categories of expenditure for the period April-June 2014 were: compensation of employees – including imputed social contributions and pensions of civil servants – €527.3m – a 9.4% decrease – and social transfers €669.3m – an 11.5% decrease. Current transfers reached €78.1m, a 17.3% decrease.

Source: Cyprus Mail