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A surplus of €127.9 million was recorded by the general government in the third quarter of 2018, according to the National Statistics Office. The NSO said that between July and September, total revenue stood at €1,234.5 million, an increase of €75.3 milSurplus recorded in general government accounts
A surplus of €127.9 million was recorded by the general government in the third quarter of 2018, according to the National Statistics Office. The NSO said that between July and September, total revenue stood at €1,234.5 million, an increase of €75.3 million when compared to the third quarter of 2017. The main contributors were taxes on production and imports and current taxes on income and wealth with an increase of €58.1 million and €26.3 million respectively. Decreases were registered in net social contributions receivable (€7.6 million), market output (€7.3 million), and current transfers receivable (€1.9 million). Total expenditure in the third quarter amounted to €1,106.7 million, an increase of €103.2 million over the corresponding quarter of 2017. Increases were recorded mainly in current transfers payable (€32.1 million), capital transfers payable (€31.8 million), compensation of employees (€21.3 million), gross capital formation (€18.8 million), subsidies payable (€4.2 million) and social benefits and social transfers in kind (€2.7 million). Decreases were recorded in property income payable (€5.1 million), intermediate consumption (€2.4 million) and current taxes on... Read more