Government debt at the end of October reached €5,375.8 million - up by €377.5 million over the corresponding period last year, the National Statistics Office said today.

The deficit stood at €282.6 million. It was €285.7 million in the same period last year

In the first 10 months, recurrent revenue was recorded at €2,499.9 million, up by 7.9 per cent over last year.

The main contributors to this increase were income tax (€65.6 million), social security contributions (€46.5 million), grants (€39.5 million) and value added tax (€36.5 million).

Conversely, customs and excise duties registered a decline of €28.4 million.

Recurrent expenditure increased by €162.2 million, mainly as a result of higher spending on programmes and initiatives (€82.7 million). Personal emoluments and contributions to government entities increased by €40.9 million and €32.9 million respectively. Operational and maintenance Expenditure went up by €5.7 million.