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APS - Illizi: 17,690 archaeological sites listed since 2016
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MAP - Activisme digital : les mouvements sociaux à l’ère numérique
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APS - الحظيرة الثقافية الطاسيلي ناجر: إحصاء أزيد من 17690 موقعا أثريا خلال الأربع سنوات الأخيرة
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MAP - Afrique : La cybercriminalité coûte plus de 4 billions USD par an (Microsoft)
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NNA - غرفة إدارة الكوارث: 1859 حالة جديدة
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وجاء فيه: (مرجعة الصورة البيانية)
NNA - Ministry of Health: 1859 new coronavirus cases, 24 deaths
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MAP - Produits agricoles: Bonnes perspectives pour la campagne d'exportation (ministère)
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MAP - Casablanca, 'le cœur battant' éprouvé par la pollution
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APS - Illizi: recensement de plus de 17.690 sites archéologiques depuis 2016
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APS - Inflation : un taux annuel moyen de 2,2% à fin octobre 2020
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MAP - 8th International Conference on Renewable and Sustainable Energy Held Online on Nov.25-28
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MAP - Abdellatif Bardach Elected Vice-President of Association of Mediterranean Energy Regulators
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NNA - الجامعة اللبنانية الاميركية تفوز بجائزة مؤسسة شومان للباحثين العرب 2020 في مجال الاعلام
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NNA - Ministère de la Santé Publique: 1859 nouveaux cas au coronavirus
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MAP - Morocco, EU Review First Year of New Fisheries Agreement
Brussels -November 26, 2020- (MAP) - Minister of Agriculture, Fisheries, Rural Development, Water and Forests, Aziz Akhannouch and the European...
MAP - 'Made in Morocco' Vaccines will Supply Sub-Saharan Africa and Maghreb (Health Minister)
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Lusa - Business News - Portugal: Temporary measures don't affect public accounts - Minister
Lisbon, Nov.26,2020(Lusa)-Portugal's finance minister, João Leão, on Thursday said that the temporary nature of part of the measures provided for...
Lusa - Business News - Mozambique: NGOs criticise president's statements on disinformation
Maputo, Nov. 26, 2020 (Lusa) - Mozambican non-governmental organisations (NGOs) on Thursday criticised statements by the country's president, Filipe Nyusi,...
Lusa - Business News - Portugal: PSI20 falls 0.46% in line with other European bourses
Lisbon, Nov. 26,2020(Lusa)- The Lisbon stock market closed down on Thursday as the PSI20 index dropped 0.46% to 4,607.25 points,...
Lusa - Business News - Portugal: Car sector generates over 20% of state tax revenues - ACAP
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Lusa - Business News - Mozambique: Two wounded in latest attack on public transport in central region
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Lusa - Business News - Angola: Eni renews support for demining further 40,000 m2 in Benguela province
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Lusa - Business News - Portugal: Cut in early retirement increases to 15.5% by 2021
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Lusa - Business News - Portugal: Socialist party passes budget without any outside support
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Lusa - Business News - Portugal: Energy company EDP offers €500,000 for clean energy projects in Africa
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Lusa - Business News - Portugal: Public social spending 22.7% of GDP in 2019, above average - OECD
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Lusa - Business News - Portugal: Finance minister 'very concerned' about transfer to Novo Banco
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CNA - Support schemes averted drastic rise in unemployment amid Covid pandemic, Labour Minister says
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Lusa - Business News - Equatorial Guinea: Right to exploit gas despite 'green' pressure - Government
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Lusa - Business News - Portugal: EU Presidency wants immediate response to crisis, long-term vision
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Lusa - Business News - Portugal: Only 10% of companies are expecting to cut their workforce this year
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CNA - Cyprus registers unemployment of 8.2% in Q3 2020, CyStat says
CNA - Cyprus/NICOSIA
Unemployment in the third quarter of this year reached 8.2% compared to 6.7% in the third quarter of...
Lusa - Business News - Mozambique: Gas pipeline most viable option to serve domestic market - study
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Lusa - Business News - Portugal: Opposition agrees to amending budget if Novo Banco amount confirmed
Lisbon, Nov.26,2020(Lusa)-Portugal's main opposition party, the Social Democrats (PSD) on Thursday pledged to agree to an amending budget in 2021...
Lusa - Business News - Portugal: Petrol prices stable in October, diesel drops to four-month low
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Lusa - Business News - Macau: Fitch foresees 50%-60% drop in gaming revenues H1 of 2021
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Lusa - Business News - East Timor: Police arrest president of National Communications Authority
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Lusa - Business News - Portugal: EU asked telecoms regulator to clarify controversial 5G auction terms
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Lusa - Business News - Portugal: Hazard pay for health workers extended to other essential services
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Lusa - Business News - Portugal: PSI20 opens 0.23% up at 4,639.09 points
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Lusa - Business News - Portugal: Top headlines on Thursday
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CNA - Overall tax-to-GDP ratio at 41.1% in the EU for 2019, 35.6% in Cypurs marking the largest annual increase




CNA -Athanasios Athanasiou- Brussels
The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of gross domestic product, stood at 41.1% in the European Union (EU) in 2019, a decrease compared with 2018 (41.2%), according to data released today by Eurostat, the statistical office of the European Union.

In the euro area, tax revenue accounted for 41.6% of GDP in 2019, unchanged compared to 2018. In Cyprus tax revenues accounted for the 33.5% in 2018 and 35.6% in 2019 - this is the largest increase in the EU.

The tax-to-GDP ratio varies significantly between Member States, with the highest share of taxes and social contributions in percentage of GDP in 2019 being recorded in France (47.4%), Denmark (46.9%) and Belgium (45.9%), followed by Sweden (43.6%), Austria (43.1%), Italy (42.6%) and Finland (42.3%).

At the opposite end of the scale, Ireland (22.7%) and Romania (26.8%), ahead of Bulgaria (30.3%), Lithuania (30.4%) and Latvia (31.3%) registered the lowest ratios.

Compared with 2018, the tax-to-GDP ratio increased in twelve Member States in 2019, with the largest rise being observed in Cyprus (from 33.5% in 2018 to 35.6% in 2019), ahead of Denmark (from 45.1% to 46.9%). In contrast, decreases were recorded in thirteen Member States, notably in Belgium (from 47.1% in 2018 to 45.9% in 2019), Greece (from 42.7% to 41.9%), Sweden (from 44.4% to 43.6%) and France (from 48.2% to 47.4%).

In 2019, net social contributions made up the largest part of tax revenue in the EU (accounting for 14.2% of GDP), closely followed by taxes on production and imports (13.7% of GDP) and taxes on income and wealth (13.0%).

Looking at the main tax categories, a clear diversity prevails across the EU Member States. In 2019, the share of taxes on production and imports was highest in Sweden (where they accounted for 22.2% of GDP), Croatia (20.3%) and Hungary (18.1%), while they were lowest in Ireland (7.8%), Romania (10.7%) and Germany (10.9%). This rate was 15.1% in Cyprus

For taxes related to income and wealth, the highest share by far was registered in Denmark (30.7% of GDP), ahead of Sweden (18.0%) and Luxembourg (16.5%). In contrast, Romania (4.8%), Bulgaria (5.5%) as well as Croatia and Hungary (both 6.6%) recorded the lowest taxes on income and wealth as a percentage of GDP. This rate is 9.7% in Cyprus.

Net social contributions accounted for a large proportion of GDP in Germany (17.3%), France (16.8%) and Slovenia (16.0%), while the lowest shares were observed in Denmark (0.8% of GDP), Sweden (3.4%) and Ireland (4.5%). It is 10.7% in Cyprus

Meanwhile, in the second quarter of 2020, when Member States continued to implement the COVID-19 containment measures, household real consumption per capita dropped by 10.7% in the euro area, after a decrease of 3.3% in the previous quarter. This decline is the highest since the beginning of the time series in 1999. Household real income per capita decreased in the second quarter of 2020 by 3.2%, after an increase of 0.5% in the first quarter.

In the EU household real consumption per capita decreased by 12.3% in the second quarter of 2020, after a decrease of 3.2% in the previous quarter. This decline is the highest since the beginning of the time series in 1999. Household real income per capita decreased by 4.8% in the second quarter of 2020, after an increase of 0.5% in the first quarter 2020.

During the second quarter of 2020, household gross disposable income decreased by 3.3% in the euro area and by 5.6% in the EU. In both cases, the main reason was the important decrease in wages. Gross operating surplus and mixed income of households and property income (and other current transfers) also contributed negatively. Conversely, current taxes and net social contributions had a strong positive contribution that attenuated the decrease of the gross disposable income, while the contribution of social benefits was positive as well.

In the second quarter of 2020, the saving rate increased by 8.0 percentage points in the euro area, compared to the first quarter. In the EU, it increased by 8.3 percentage points. The household saving rate increased in all Member States, for which data are available for the second quarter of 2020, except in Sweden (-3.2 percentage points, pp). The highest increases were observed in Ireland (+18.1 pp), Spain (+12.3 pp) and Portugal (+9.6 pp), and the lowest in Italy (+3.7 pp) and Czechia (+5.3 pp). In all the cases, the increase of the saving rate was explained by the strong decrease of individual consumption expenditure. The drop in the individual consumption expenditure of households was the most pronounced in Ireland (-21.7%) and Spain (-20.3%). At the same time, the gross disposable income decreased in all Member States except in Denmark and Ireland.

Finally, in the second quarter of 2020, the investment rate decreased by 0.9 percentage points in the euro area and 0.7 percentage points in the EU. Among the Member States for which data are available, eight Member States recorded a decrease of the household investment rate, with the highest declines in Ireland (-3.1 pp), France (-1.3 pp) and Italy (-1.1 pp). On the contrary, the investment rate of households increased in Finland, Sweden and Portugal, and remained stable in Denmark.

CNA/THA/AGK/2020
ENDS, CYPRUS NEWS AGENCY
________________________________________

Cyprus News Agency, 21 Academias Avenue, 2107 Aglantzia, Nicosia
Tel. 22556000, Fax. 22556100, email:news@cna.org.cy, website: www.cna.org.cy



Agency : CNA

Date : 2020-10-30 09:40:00







 

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