articles | 20 October 2017

Cystat revises 2016 fiscal surplus upwards to 0.5% of GDP

The government generated a fiscal surplus of €82.5m, or 0.5% of gross domestic product (GDP), last year, against a 1.2% deficit in 2015, the statistical service said citing revised figures.

Total government spending rose last year 1.6% to over €7bn while total expenditure dropped 2.5% to €6.9bn, Cystat said in a statement on its website on Friday.

In April, Cystat said that last year’s fiscal surplus was €64.4m, or 0.4% of economic output.

The government aims at generating next year a fiscal surplus of 1% of gross domestic product.

Source: Cyprus Mail

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