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Ministry of Finance, Statistical Service



25/04/2018
Latest Figures: Quarterly Accounts of General Government, 4th Quarter 2017

The annual public sector balance for 2017 registered a surplus of €343,6 mn, which corresponds to 1,8% of GDP. Total annual expenditure increased by 4,3% (€7.327,5 mn) and total annual revenue increased by 8,2% (€7.671,1 mn) as compared to 2016.

On the basis of the preliminary data on the General Government accounts for October-December 2017, which are compiled in accordance to EU concepts and definitions (ESA 2010), total revenue amounted €2.221,2 mn (7,2% increase as compared to the corresponding period of 2016), while total expenditure reached €2.351,7 mn (6,2% increase), resulting in a deficit of €130,5 mn as compared to a deficit of €140,9 mn in the corresponding period of the previous year.

The main categories of revenue for the period October-December 2017 were: taxes on production and imports €836,1 mn (11,7% increase as compared to the fourth quarter of 2016), of which VAT was €536,6 mn (9,5% increase), taxes on income and wealth €539,8 mn (4,6% increase), and social contributions €482,9 mn (12,8% increase). Revenue from sales of goods and services reached €217,4 mn registering an increase of 3,4% as compared to the corresponding period of the previous year.

The main categories of expenditure for the period October-December 2017 were: social transfers €754,9 mn (0,7% increase compared to the corresponding period of 2016), and compensation of employees (including imputed social contributions and pensions of civil servants) €726,8 mn (3,7% increase). The capital account recorded an expenditure of €347,7 mn (€286,7 mn investments and €61,0 mn capital transfers) as compared to €259,5 mn in 2016 (€223,8 mn investments and €35,7 mn capital transfers), increase of 34,0% as compared to the corresponding period of last year. Intermediate consumption reached €235,2 mn (10,4% increase as compared to the corresponding period of the previous year).


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