The government's  consolidated fund registered a €57.9 million positive change between January and February when compared to the same period last year, new data released today shows. 

The change was the result of a €75.6 million increase in revenue, which outpaced the €17.7 million rise in expenditure during that period. As a result, the consolidated fund registered a €30.6 million surplus, National Statistics Office figures showed.

Recurrent revenue was recorded at €621.6 million, up from €546.0 million last year. The comparative increase of 13.8 per cent was primarily the result of higher grants and licenses, taxes and fines which increased by €32.8 million and €9.0 million respectively. Moreover, increases were also recorded for customs and excise duties (€8.4 million), VAT (€7.5 million), miscellaneous receipts (€6.9 million) and social security (€5.5 million) among others.

Conversely, decreases were recorded in Income Tax (€5.2 million). Compared to January-February last year, total expenditure stood at €590.9 million up from €573.2 million due to added outlays on recurrent expenditure, interest payments and capital expenditure. Recurrent expenditure stood at €521.3 million from €504.7 million last year.

The contributors to this increase were programmes and initiatives and personal emoluments with a rise of €14.9 million and €4.1 million respectively. The main developments in the programmes and initiatives category involved higher EU own resources (€5.8 million), added outlays due to health concession agreements (€5.7 million), EU Presidency 2017 costs (€3.3 million), the EU heads of government event (€2.2 million) and childcare for all costs (€1.4 million). On the other hand, lower outlays for medicines and surgical materials were recorded (€5.9 million).

Decreases were registered in operational and maintenance expenses (€1.7 million) and contributions to government entities (€0.7 million). The interest component of the public debt servicing costs stood at €36.8 million, up from €36.2 million last year.

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