Finance minister Pierre Gramegna reports public finances in good order Chambre des députés

Finance minister Pierre Gramegna reports public finances in good order Chambre des députés

Although central government expenditure increased by 8.5% to amount to €4,498.6 million, Gramegna explained that this was due to “high levels of investment in sustainable growth”, which increased by 11.7% compared to Q1 2017.

Direct taxes came in 6.9% higher than expected and income from local authority taxation increased by more than 4.1%. Revenues from wages and salaries increased by 7.7% and income from wealth tax increased by 23.3%.

The central administration's balance stands at €174 million for Q1 2018.