Deficit sharply up
The government account in the first quarter of this year registered a deficit of €162.5 million, compared to €107.8 million in the first quarter last year, the National Statistics Office said.
During the March quarter total revenue amounted to €483.3 million, an increase of €38.5 million compared to the first quarter of 2007. Total expenditure during the first quarter amounted to €645.8 million, registering a comparative increase of €93.2 million.
Total general government debt outstanding at the end of March this year amounted to €3,374 million.
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James Sultana
Jul 12th 2008, 13:12
Finanzi fis-sod which will allow tax cuts as now people can reap the dividends of the sacrific we made together .... surplus by 2010 because the economy is doing well .... THE TRUTH IS NOW THERE TO BE SEEN BY EVERYONE ! Labour was all gloom, sadness and raising unfounded fears, no ?
These are the results of the first quarter ... right during the electoral campaign ... are we to beleive that none of the ministers and not even the PM knew what they were spending ??
If these accounts were those of a normal family, I don`t think that the family would stay such for a long time !!! And then we are astonished of the deficits accumulated by the dockyards !