In the last quarter of 2013, the General Government recorded a surplus of €34.4 million, the NSO said.
During October-December 2013, total revenue stood at €885.3 million, an increase of €109.9 million when compared to the fourth quarter of 2012. This was mainly triggered by higher proceeds from Current Taxes on Income and Wealth of €54.9 million. Other increases were recorded in Taxes on Production and Imports (€27.3 million), Market Output (€12.3 million), Social Contributions Receivable (€9.6 million) and Property Income Receivable (€8.1 million). Conversely, Current Transfers Receivable declined by €2.1 million.
Total expenditure in the last quarter of 2013 amounted to €850.9 million. The largest increases were recorded in Current Transfers Payable (€23.3 million), Capital Transfers Payable (€12.9 million), and Compensation of Employees (€10.0 million). Conversely, declines were recorded in Social Bene?ts and Social Transfers in Kind (€18.7 million) and Gross Capital Formation (€4.8 million).
During the quarter under review, in relation to ?nancial transactions in assets, Currency and Deposits registered a decline of €247.4 million over the previous quarter. Moreover, Other Accounts Receivable went down by €12.3 million whereas Shares and Other Equity increased by €12.7 million. Concurrently, Long-term Loans added €9.7 million while Short- term Loans registered a marginal increase.
With regard to ?nancial transactions in liabilities, the major decreases were recorded in Short-term Securities and Other Accounts Payable by €174.8 million and €58.9 million respectively. Additionally, Long-term Securities went down by €5.5 million. Conversely, Long-term Loans and Short-term Loans increased by €4.1 million and €3.2 million respectively, while Currency and Deposits went up by €1.0 million.
Total General Government debt outstanding at the end of December advanced by €371.9 million over the comparable period in 2012. General Government debt amounted to €5,243.1 million, of which €5,238.8 million related to Central Government. The increase of €371.8 million in Central Government debt was underpinned by higher Long-term Securities (Malta Government Stocks) of €242.8 million and an increase in Short-term Securities of €94.0 million. Moreover, Long-term Loans went up by €26.0 million whereas Short-term Loans increased by €4.2 million. The euro coins issued in the name of the Treasury, which are considered as a currency liability pertaining to the Central Government, amounted to €55.3 million, a rise of €4.8 million over the euro coin stock recorded at the end of December 2012. In addition, the Local Government debt edged up by €0.1 million to €4.3 million.