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Third Quarter Govt. Revenue Down 1.9%

government spending cyprusGovernment income for the third quarter of 2010 fell 1.9 percent to 1.833 billion euros year-on-year, while spending rose 1.5 percent to 1.935 billion, resulting in a deficit of 101.9 million euros, said the Cyprus Statistical Service (CYSTAT).

Income for the period July-September 2010 came from taxes on production and imports €682,8 mn (0,7% increase), of which VAT was €438,9 mn (5,0% increase), taxes on income and wealth €572,7 mn (3,4% decrease).

Spending was mainly on public employee payroll €638,3 mn (0,9% increase), and social transfers €599,9 mn (14,3% increase),current transfers reached €158,5 mn (2,1% increase). Negative growth rates were observed in the categories of the capital formation (29,5% decrease) and intermediate consumption by 6,8%, according to the survey.

Poll

Will Greece's Cycle of Debt and Crisis Be Broken By the New Eurozone Deal?
Yes, now the country can grow and get out of crisis
10%
No, Greece's economy is not efficient
76%
Maybe, if the reforms are implemented
14%
Total votes: 42