The government said yesterday that NSO figures showed how the current administration had managed to narrow the deficit by more than €150 million.

The deficit between January and November reached €189 million, compared with €342 million between January and November 2012 under the former government.

The government said that this year, thanks to economic growth, income tax revenue had risen from €719 million under the former government to €861 million this year, even though income tax rates were reduced twice.

It said VAT revenue this year reached €593 million compared with €503 million under the former government, proving that consumption was not down, as claimed by the Opposition.

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