Government shortfall up by €76.6 million

The shortfall between government recurrent revenue and total expenditure grew by €76.6 million to €208.7 million between January and April this year, the National Statistics Office said today.

"An increase of €130.6 million in total expenditure was only partly offset by an increase of €54.1 million in
recurrent revenue," the office said.

During the first four months this year, the Consolidated Fund recorded increases in revenue of €26.0 million, €13.9 million, and €9.4 million respectively from Income Tax, Value Added Tax and Social Security contributions. Dividends on investment also added €7.8 million.

Recurrent expenditure amounted to €701.4 million, an increase of €96.5 million compared to the first four months last year. Major spending increases were made for social security benefits, which added €26.3 million, and under the Ministry for Investment, Industry and Information Technology (+€12.5 million).

The Ministry of Health, the Elderly and Community Care and the Ministry for Rural Affairs and the Environment added €10.7 million and €10.1 million respectively.

During the period under review the interest component of the public debt servicing costs amounted to €68.3 million, an increase of €5.0 million over 2007.

The Capital Programme for the first four months this year added €29.1 million and amounted to €93.3 million.

The Central Government debt outstanding at the end of April amounted to €3,309.5 million, an increase of €78.0 million compared to the gross Central Government debt outstanding at the end of April last year.