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Ministry of Finance, Statistical Service



20/04/2012
Latest Figures: Quarterly Accounts of General Government, 4th Quarter 2011

Based on the preliminary data on the General Government accounts for the period October-December 2011, compiled in accordance to E.U concepts and definitions, the total revenue amounted to €2.060,9 mn (4,2% increase compared to the corresponding period of 2010). Total expenditure reached €2.639,8 mn, (11% increase) resulting to a deficit of €578,9 mn as compared to €400,5 mn deficit in the corresponding period of the previous year.

The main categories of revenue for the period October-December 2011 were: taxes on production and imports €690,6 mn (5,9% decrease), of which VAT was €403,6 mn (4,7% decrease), taxes on income and wealth €594,3 mn (zero growth as compared to the same period of 2010). Revenue from sales of goods and services decreased by 11,7% as compared to the corresponding period of the previous year.

The main categories of expenditure for the period October-December 2011 were: compensation of employees €855 mn (2,8% increase) and social transfers €805,9 mn (22,3% increase). Current transfers reached €244,7 mn (compare to the amount of €59,3 mn in the corresponding period of the previous year). Negative growth rates were observed in the categories of capital formation (22,6%) and intermediate consumption (13,7%).

In 2011, the overall public sector balance registered a deficit of €1.118,9 mn, 6,3% of GDP.

Total public sector expenditure in 2011 increased by 4,5% and total revenue by 2,3% as compared to the previous year.


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