For January to September, the government posted a €199.6 million surplus, Cystat said in a statement issued on Friday.

In the third quarter, revenue rose 9.3% to €1.9 billion compared with 2013, while spending fell 8% to €1.6 billion, the statement said.

Third quarter indirect tax revenue rose an annual 8.7% to €707.2 million while direct taxes rose 3.5% to €548.9 million, Cystat said.

Between July and September, overall public payroll fell 17% to €516.4 million compared with a year ago, while social transfers fell 0.3% to €611.6 million.

Source: Cyprus Mail