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Deficit reaches €268 million as debt goes up to €8 billion

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A deficit of €267.6 million was recorded by the government in the third quarter of 2021, the National Statistics Office said on Thursday. During the same period,  debt rose to €7,989.3 million, or 57.2% of the gross domestic product.  The NSO said in a statement that between July and September, total revenue stood at €1,313.6 million, an increase of €65.6 million when compared to the corresponding quarter in 2020. Almost all components of general government revenue recorded an increase, with taxes on production and imports registering an increase of €40 million.  But net social contributions receivable registered a decrease of €16.7 million, while current taxes on income and wealth fell by €6.4 million. Total expenditure in the third quarter of 2021 amounted to €1,581.1 million, an increase of €122.5 million. The largest increase was recorded in current transfers payable (€72.6 million), followed by intermediate consumption (€62.1 million), and compensation of employees (€29.2 million). The increases were partially offset by decreases in subsidies payable (€48.6 million), mostly owing to lower government outlay on the COVID-19 Business Assistance Programme, and gross capital...


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