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31-07-2023 13:56 |
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The
preliminary General Government fiscal results, which are prepared by the
Statistical Service of Cyprus (CYSTAT) indicate a surplus of €155,5 mn (0,5%
of GDP) for the period of January-June 2023, as compared to a deficit of
€92,4 mn (0,3% of GDP) that was recorded during the period of January-June
2022. 
Revenue During the period of January-June 2023, total revenue increased by €680,4 mn (+14,2%) and amounted to €5.468,6 mn, compared to €4.788,2 mn in the corresponding period 2022. In detail, taxes on production
and imports increased by €241,9 mn (+13,8%) and amounted to €1.997,7 mn,
compared to €1.755,8 mn in 2022, of which net VAT revenue increased by €164,5
mn (+14,2%) and amounted to €1.322,9 mn, compared to €1.158,4 mn in 2022.
Revenue from taxes on income and wealth increased by €216,9 mn (+21,2%) and
amounted to €1.240,3 mn, compared to €1.023,4 mn in 2022. Social
contributions increased by €230,0 mn (+15,5%) and amounted to €1.709,6 mn,
compared to €1.479,6 mn in 2022. Property income increased by €1,3 mn (+2,5%)
and amounted to €53,3 mn, compared to €52,0 mn in 2022. Current transfers
increased by €42,7 mn (+43,7%) and amounted to €140,5 mn, compared to €97,8
mn in 2022. On the contrary, capital
transfers decreased by €30,4 mn (-59,0%) to €21,1 mn, from €51,5 mn in 2022.
Revenue from the sale of goods and services decreased by €22,0 mn (-6,7%) to
€306,1 mn, from €328,1 mn in 2022.
During the period of
January-June 2023, total expenditure increased by €432,5 mn (+8,9%) and
amounted to €5.313,1 mn, compared to €4.880,6 mn in the corresponding period
of 2022. In detail, social benefits
increased by €212,6 mn (+10,4%) and amounted to €2.250,9 mn, compared to
€2.038,3 mn in 2022. Compensation of employees (including imputed social
contributions and pensions of civil servants) increased by €161,6 mn (+11,1%)
and amounted to €1.621,5 mn, compared to €1.459,9 mn in 2022. Intermediate
consumption increased by €8,7 mn (+1,7%) and amounted to €519,5 mn, compared
to €510,8 mn in 2022. Subsidies increased by €10,8 mn (+28,3%) and amounted
to €49,0 mn, compared to €38,2 mn in 2022. Interest payable increased by
€25,5 mn (+12,5%) and amounted to €229,8 mn, compared to €204,3 mn in 2022. The capital account increased
by €43,0 mn (+14,9%) and amounted to €330,9 mn, compared to €287,9 mn in
2022. In detail, gross capital formation increased by €86,4 mn (+42,9%) and
amounted to €287,9 mn, compared to €201,5 mn in 2022 and other capital
expenditure decreased by €43,4 mn (-50,2%) to €43,0 mn, compared to €86,4 mn
in 2022. On
the contrary, current transfers decreased by €29,7 mn (-8,7%) to €311,5 mn,
from €341,2 mn in 2022.
Methodological
information Data Coverage and Methodology Information is provided for the
whole sequence of accounts for the General Government sector. The revenue and
expenditure are analyzed by category and these are classified between current
and capital, respectively. The categories of revenue and
expenditure for General Government cover all the subsectors of the General
Government based on the European System of Accounts 2010 (ESA 2010).
The data is collected from: - The Financial Information
Management Automation System (FIMAS) for Central Government, Extra Budgetary
Funds and Social Security Funds, - the budget execution of
Municipalities and Communities, - the budget execution of
Semi-Government Organizations. For the completion of the
estimates, any methodological adjustments or corrections based on the
European System of Accounts 2010 (ESA 2010) are taken into account.
(MV/SCH) |
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