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Next Previous Surplus € 38 million in the fourth quarter 2021 HOME • INSIDER • CYPRUS • Surplus of € 38 million in the fourth quarter 2021
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Public finances surplus of € 37.7 million in the fourth quarter of 2021 compared to a deficit of € 648 million in the corresponding period of 2020.
According to preliminary data released by the Statistical Service , the improvement in public finances in the last quarter of 2021 is mainly due to the significant increase in revenues, combined with the reduction of expenditures, albeit to a lesser extent.
Expenditures -2.9%
In particular, total expenditures during the period October-December 2021 decreased by & nbsp; € 91.2 million (-2.9%) and were reduced to € 3,075.8 million compared to € 3,167.1 million in the corresponding period of 2020.
Social benefits decreased by € 83.5 million (-7.0%) and were limited to € 1,106.6 million compared to € 1,190.1 million. in the corresponding quarter of 2020. Staff salaries (including imputed social contributions and civil servants' pensions) decreased by € 9.1 million (-1.0%) to € 915.1 million compared to € 924.2 million. in the fourth quarter of 2020. Subsidies decreased by € 54.6 million (-56.6%) and fell to € 41.9 million compared to € 96.5 million in the corresponding quarter of 2020. Also, a decrease 22.1% showed interest paid and was reduced to € 78.6 million compared to € 100.9 million in the fourth quarter of 2020.
The capital account decreased by € 10.5 million (-2.8%) and was limited to € 363.6 million (€ 275.9 million capital investments and € 87.7 million capital transfers) compared to € 374.1 million (€ 341.4 million in capital investments and € 32.7 million in capital transfers) in the corresponding quarter of 2020.
On the contrary, intermediate consumption increased by € 58.5 million. (+ 18.4%) and amounted to € 377.5 million compared to € 318.9 million in the fourth quarter of 2020. Current transfers increased by € 30.2 million (+ 18.6%) and amounted to € 192.6 million compared to € 162.4 million in the corresponding quarter of 2020.
Revenue + 23.6%
According to the Statistical Service, the total revenues, during the period October-December 2021 increased by € 594.3 million (+ 23.6%) and amounted to € 3,113.5 million compared to € 2,519.2 million. the corresponding period of 2020.
In particular, taxes on production and imports increased by & nbsp; € 200.0 million (+ 28.5%) and amounted to € 902.1 million compared to € 702.1 in the corresponding quarter of 2020, of which net VAT revenue (after deducting refunds) increased by € 198.6 million (+ 51.5%) and amounted to € 584.0 million compared to € 385.4 in the fourth quarter of 2020. Revenue from supply & nbsp; of goods and services increased by € 29.3 million (+ 13.7%) and amounted to € 242.7 million compared to € 213.4 million in the corresponding quarter of 2020.
social contributions increased by € 40.9 million (+ 5.5%) and amounted to € 785.8 million compared to € 744.9 million in the fourth quarter of 2020. Revenues and income tax revenues Wealth increased by € 196.6 million (+ 29.5%) to € 863.2 million compared to € 666.6 million in the corresponding quarter of 2020. Capital transfers increased by € 163.3 million . and amounted to € 213.9 million compared to € 50.6 million in the fourth quarter of 2020.
On the contrary, current transfers decreased by € 20.7 million (-18.7 million). %) to € 89.9 million compared to € 110.6 million in the corresponding quarter of 2020.
Interest and dividends collected decreased by € 15.1 million (-48.7% ) and were reduced to € 15.9 million compared to € 31.0 million in the fourth quarter of 2020.
