RTTNews - Tuesday, the Statistical Service of the Republic of Cyprus revealed in a report that the general government deficit stood at 0.8% of GDP in the first quarter, compared to the surplus, which was 0.5% of GDP in the previous year.

In value terms, government deficit stood at EUR 137.7million in the first quarter versus EUR 89.9 million surplus in the preceding year.

The total revenue declined 4.1% year-on-year to EUR 1.58 billion in the first quarter, while total expenditure rose 10.3% to EUR 1.7 billion.

At the same time, revenue from sales of goods and services increased 3.9%.

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