The latest figures by the National Statistics Office on Government accounts show a surplus of €17.5 million during the period October to December 2019, where total revenue stood at €1,384.4 million.
The figures reflect an increase of €52.3 million when compared to the corresponding quarter in 2018. Meanwhile, total expenditure in Q4 2019 amounted to €1,366.9 million, an increase of €52 million compared to the same quarter in 2018.
Increases in revenue were registered in current taxes on income and wealth (€68.3 million), market output (€31.5 million) and net social contributions (€6.0 million).
These was partially outweighed by decreases in capital transfers receivable (€28.4 million), property income receivable (€13.1 million), current transfers receivable (€7.8 million) and taxes on production and imports (€4.2 million).
Conversely, increases in expenditure were recorded in intermediate consumption (€41.7 million), compensation of employees (€34.4 million), gross capital formation (€30.6 million), as well as social benefits and social transfers in kind (€13.3 million). Compared to the corresponding quarter in 2018, current transfers payable and capital transfers payable both registered a decrease of €47.7 million and €19.6 million respectively.