Government registers €156.2 million deficit in first six months

Government has registered a deficit of €156.2 million in the first six months, a position that has worsened when compared to the same period last year, figures out today show.

The deficit at the half way mark last year stood at €141.9 million. The National Statistics Office figures also show that the deficit for the first half of 2019 is the highest since 2016.

The total recurrent revenue between January and June stood at €2.2 billion while total expenditure during the same period was €2.3 billion, the NSO said.

January to June Consolidated Fund income and expenditure

The biggest generator of revenue for government was income tax at €685 million, an increase of €91 million over the same period last year. Social security payments generated €471 million (+€47m) and VAT raised €448 million (+€57m).

On the other hand, the government spent most on programmes and initiatives, €1.2 billion, an increase of €141 million.