Cyprus general government balance in January – April turns negative due to COVID-19
The Cyprus General Government generated a deficit of €73 million or 0.4% for the period of January – April 2020, reflecting the adverse consequences of the coronavirus outbreak and the lockdown measures to curb the spread of the disease.
According to preliminary data published by the Cyprus Statistical Service, total expenditure for the four months of 2020 rose by €117.1 mn or 4.7% compared to the corresponding period of 2019 and amounted to €2,606.5 mn
Social benefits increased by €46,2 mn or 5,6% to €869,7 mn from €823.5 mn in the corresponding period of last year.
Compensation of employees (including imputed social contributions and pensions of civil servants) increased by €45.4 mn or by an annual 5.7% to €848.1 mn (from €802,7 mn in the corresponding period of 2019).
Subsidies increased by €61.4 mn and amounted to €76.2
(CNA)
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According to preliminary data published by the Cyprus Statistical Service, total expenditure for the four months of 2020 rose by €117.1 mn or 4.7% compared to the corresponding period of 2019 and amounted to €2,606.5 mn
Social benefits increased by €46,2 mn or 5,6% to €869,7 mn from €823.5 mn in the corresponding period of last year.
Compensation of employees (including imputed social contributions and pensions of civil servants) increased by €45.4 mn or by an annual 5.7% to €848.1 mn (from €802,7 mn in the corresponding period of 2019).
Subsidies increased by €61.4 mn and amounted to €76.2
(CNA)
*The full text of the news item is available in the paid version of the CNA web service. Subscription Form
*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.
from Cyprus News Agency
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