Government’s consolidated fund registered a deficit of €118.9 million in the first five months this year, €120 million lower than in the same period last year.

Recurrent revenue during the period registered an increase of €185.8 million over January-May last year, which outweighed the rise in expenditure of €65.7 million.

Recurrent revenue was recorded at €1,339.9 million, up from €1,154.1 million last year.

Compared to the first five months last year, total expenditure recorded an increase of €65.7 million due to higher recurrent and capital expenditures and interest payments.

Recurrent expenditure went up by €32.6 million, totalling €1,183.9 million.

The interest component of the public debt servicing costs for the first five months this year stood at €96.1 million from €92.3 million last year.

Government’s capital expenditure was recorded at €178.7 million, up by €29.2 million from last year.

At the end of May, central government debt stood at €5,345.2 million, an increase of €61.4 million over the corresponding period last year.

The euro coins issued in the name of the Treasury went up by €5.8 million when compared to the coin stock as at the end of May 2014, and totalled €61.9 million.

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