Ministry of Finance, Statistical Service



30/03/2006
LATEST FIGURES: QUARTERLY ACCOUNTS OF GENERAL GOVERNMENT, 4th QUARTER 2005
30/03/2006



(a) On the basis of the preliminary data on the General Government accounts for the period October-December 2005, compiled in accordance to E.U concepts and definitions, the total revenue amounted to £979,7mn (3,3% increase in relation to the third quarter of 2004) while total expenditure reached £1170.7mn (12% increase) i.e. there was a deficit of £191mn compared to a deficit of £97,4mn during the fourth quarter of 2004.

(b) For the period January-December 2005 total revenue amounted to £3273,7mn and total expenditure amounted to £3459,3mn resulting to a deficit of £185,6mn (2,4% of GDP), compared to a deficit of £298,8mn (4,1% of GDP) during the corresponding period (Jan-Dec) of 2004.

(c) The main categories of revenue for the period January-December 2005 were: taxes on production and imports £1355mn (7,4% increase), of which VAT was £776,5mn (increase 15,5%), taxes on income and wealth £729,9mn (23% increase), social contributions £650,1mn (14,2% increase).

The main categories of expenditure for the period January-December 2005 were: compensation of employees £1152,7mn (5% increase), and social transfers £1005,7mn (13,3% increase).











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