Ministry of Finance, Statistical Service



26/04/2013
Latest Figures: Quarterly Accounts of General Government, 4th Quarter 2012

Based on the preliminary data of the General Government accounts for the period October-December 2012, which are compiled in accordance with the European System of Accounts, the total revenue amounted to €2.037,6 mn (7,7% increase compared to the corresponding period of 2011). Total expenditure reached €2.576,1 mn, (3,7% increase) resulting to a deficit of €538,5 mn as compared to a €592,4 mn deficit for the corresponding period of the previous year.

The main categories of revenue for the period October-December 2012 were: taxes on production and imports €741,7 mn (8,7% increase), of which VAT was €415,5 mn (17,9% increase), taxes on income and wealth €558,2 mn (5,1% decrease as compared to the same period of 2011). Revenue from sales of goods and services increased by 17,9% as compared to the corresponding period of the previous year.

The main categories of expenditure for the period October-December 2012 were: compensation of employees €836,7 mn (3,8% decrease) and social transfers €777,0 mn (9,5% increase). Current transfers reached €200,2 mn (compared to €167,8 mn in the corresponding period of the previous year). Negative growth rates were observed in the categories of subsidies (41,1%), capital formation (23,5%) and intermediate consumption (5,4%).

In 2012, the overall public sector balance registered a deficit of €1.127,3 mn, 6,3% of GDP.

Total public sector expenditure in 2012 increased marginally by 0,1% and total revenue by 0,2% as compared to the previous year.

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