Thursday, the Statistical Service of the Republic of Cyprus said the overall public sector balance registered a surplus of EUR 157.2 million or 0.9% of GDP in 2008. For the year ended 2008, total public sector expenditure grew 11.4% over the previous year, while total revenues rose only 5.3%.

In the fourth quarter of 2008, the general government balance registered a deficit of EUR 326.3 million compared to EUR 55.2 million surplus in the same period of 2007.

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