Government generates a 0.4% fiscal surplus on cash basis in 2014

By Stelios Orphanides

The central government posted a fiscal surplus of 0.4 per cent on a cash basis in January to December last year, mainly on reduced spending, the finance minister said today.

Overall fiscal surplus last year was below 68.1 million euros compared to 843.6 million euros the year before, the finance ministry said in a statement on its website today. The government generated a primary surplus 534.4 million euros last year compared to a primary deficit of 270 million euros in 2013.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.