Figures released by the Maltese Central Office of Statistics on Wednesday painted a relatively optimstic picture of the jurisdiction's economic situation, revealing that ordinary revenue for 2001 amounted to Lm668.6 million (96% of the budget forecast), while government expenditure for the year came to Lm766.7 million (94.6% of the budget estimate.
According to the COS, the increase in revenue collection, despite what was undoubtedly a tight year for the entire international community, can be attributed in large part to the improved efficiency of collection procedures and higher employment levels in the jurisdiction.
The statistics office revealed that the revenue from customs and excise duties increased by Lm5.7 million (10.4%), income tax proceeds went up by around Lm16.8 million (11.2%), and VAT payments increased by Lm10.6 million (10.2%) during 2001.
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