The National Statistics Office has published a statement which reveals that the Government’s Consolidated Fund registered a deficit of €753.2 million by the end of August 2021.
From January until August, recurrent revenue was registered at €3,221.5 million which is 27.6% higher than the figures reported the year before. The largest recorded increase came from income tax at €331.4 million, followed by value added tax at €186.1 million, social security at €134.6 million and customs and excise duties at €58.5 million. The country’s expenditure total stood at €3,974.7 million by the end of August, which is 10.1% higher than 2020.
The primary contributor to the Recurrent Expenditure was the whopping €433.2 million rise registered under programmes and initiatives, with the largest development of the latter being the Pandemic Assistance Scheme which include the COVID-19 Business Assistance Programme, totalling at €257.4 million.