{"id":107882,"date":"2024-11-30T20:10:08","date_gmt":"2024-11-30T18:10:08","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=107882"},"modified":"2024-11-30T20:10:08","modified_gmt":"2024-11-30T18:10:08","slug":"government-surplus-reaches-e1-43-billion-4-2-of-gdp-in-2024","status":"publish","type":"post","link":"https:\/\/lamaisonestates.com\/ru\/government-surplus-reaches-e1-43-billion-4-2-of-gdp-in-2024\/","title":{"rendered":"Government Surplus Reaches \u20ac1.43 Billion, 4.2% of GDP in 2024"},"content":{"rendered":"

The Statistical Service of Cyprus reported a significant general government surplus of \u20ac1.43 billion (4.2% of GDP) for the January\u2013October 2024 period. This marks a notable increase compared to the \u20ac664.8 million surplus (2.1% of GDP) recorded during the same period in 2023.<\/p>\n

Revenue Growth<\/strong>
\nTotal revenue for January\u2013October 2024 rose by \u20ac721.6 million (6.6%), reaching \u20ac11.69 billion compared to \u20ac10.97 billion in 2023.<\/p>\n

  • Taxes on Production and Imports:<\/strong> Revenue grew by \u20ac227.3 million (6.2%) to \u20ac3.89 billion, with net VAT income contributing \u20ac2.66 billion, up \u20ac187.2 million (7.6%).<\/li>\n
  • Income and Wealth Taxes: <\/strong>A sharp increase of \u20ac399.7 million (16%) brought this category to \u20ac2.9 billion, compared to \u20ac2.5 billion in 2023.<\/li>\n
  • Property Income:<\/strong> This surged by \u20ac41.1 million (48.2%) to \u20ac126.5 million.<\/li>\n
  • Sales of Goods and Services:<\/strong> Revenue jumped by \u20ac189.3 million (29.9%) to \u20ac822.7 million.<\/li>\n
  • Social Contributions: <\/strong>A modest increase of \u20ac24.9 million (0.7%) brought the total to \u20ac3.61 billion.<\/li>\n

    <\/p>\n

    Conversely, declines were observed in other areas:<\/p>\n

  • Current Transfers:<\/strong> Fell by \u20ac109.6 million (29.1%) to \u20ac266.9 million.<\/li>\n
  • Capital Transfers:<\/strong> Dropped by \u20ac51.1 million (42.2%) to \u20ac69.9 million.<\/li>\n

    <\/p>\n

    Expenditure Decline<\/strong>
    \nTotal government expenditure for January\u2013October 2024 saw a slight reduction of \u20ac45.4 million (0.4%), totaling \u20ac10.25 billion compared to \u20ac10.3 billion in 2023.<\/p>\n

  • Intermediate Consumption:<\/strong> Increased by \u20ac109.5 million (11.2%) to \u20ac1.09 billion.<\/li>\n
  • Compensation of Employees:<\/strong> Rose by \u20ac209.9 million (7.6%) to \u20ac2.97 billion.<\/li>\n
  • Social Benefits:<\/strong> Grew by \u20ac342.6 million (8.8%) to \u20ac4.26 billion.<\/li>\n
  • Interest Payable: <\/strong>Increased by \u20ac23.4 million (7%) to \u20ac358.8 million.<\/li>\n

    <\/p>\n

    Decreases included:<\/p>\n

  • Subsidies:<\/strong> Down \u20ac22.7 million (16.7%) to \u20ac113.3 million.<\/li>\n
  • Current Transfers:<\/strong> Dropped by \u20ac323.8 million (32.9%) to \u20ac660.1 million.<\/li>\n
  • Capital Account:<\/strong> Decreased by \u20ac384.4 million (32.2%) to \u20ac807.5 million, with other capital expenditures falling sharply by \u20ac393.1 million (74.8%).<\/li>\n

    <\/p>\n

    Notably, gross capital formation increased slightly by \u20ac8.8 million (1.3%), reaching \u20ac675.3 million.<\/p>\n

    Local Government Data<\/strong>
    \nThe report mentioned that estimates for the local government sub-sector were based on limited data due to insufficient submissions from relevant authorities.<\/p>\n

    Source: Stockwatch Cyprus<\/em><\/p>","protected":false},"excerpt":{"rendered":"

    The Statistical Service of Cyprus reported a significant general government surplus of \u20ac1.43 billion (4.2% of GDP) for the January\u2013October 2024 period. This marks a notable increase compared to the \u20ac664.8 million surplus (2.1% of GDP) recorded during the same period in 2023. Revenue Growth Total revenue for January\u2013October 2024 rose by \u20ac721.6 million (6.6%), […]<\/p>","protected":false},"author":9,"featured_media":107883,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/107882"}],"collection":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/comments?post=107882"}],"version-history":[{"count":2,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/107882\/revisions"}],"predecessor-version":[{"id":107885,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/107882\/revisions\/107885"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media\/107883"}],"wp:attachment":[{"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media?parent=107882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/categories?post=107882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lamaisonestates.com\/ru\/wp-json\/wp\/v2\/tags?post=107882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}