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Cyprus has money!

Cyprus has money!

18.05.2018
Tags: Cyprus, Economics & Statistics

The money available in stock from Cyprus is enough to cover the financial needs of the republic until the first half of the year 2019 inclusive. This is stated in the official statement of the Cyprian Ministry of Finance.

It is also noted that in mid-April the yield of the most liquid Cypriot bonds (with maturity in 2022, 2023, 2024 and 2025 years) has risen sharply, but since then it has almost returned to its previous values. In turn, the yield of treasury bonds with a maturity of 13 weeks remains negative at -0,25%, and the demand-output ratio is 2,8.

In the meantime, according to CyStat, Cyprus, the government in the first quarter of the year 2018 received a fiscal return of 297,3 million euros (166,3 million a year earlier). Revenues grew by 9,5% in annual terms, to 1,9 billion euros, and expenses - by 2%, to 1,6 billion.

Proceeds from production taxes for the first three months of this year increased by 15% in annual terms, to 743,2 million euros, from the value-added tax - by 25%, to 450,4 million euros, from income tax and luxury tax - by 11% , up to 447,5 million euros. Income to the social insurance fund increased by 3,2%, amounting to 433,3 million euros, and from the sale of government services - by 11%, to 126,4 million euros.

At the same time, staff costs increased by 6,1%, reaching 552 million euros, and social security - by 0,8% (598,3 million). The government also spent 58,4 million euros on investments and 9,1 million on capital transfers. Interim consumption amounted to 100,8 million euros.

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