The gap between Bermuda Government’s revenue and expenditure narrowed during the first three months of the year compared with the same period a year ago.

Government reported revenue of $244.6 million between January and March, up 3.7 per cent, while expenditure rose to $286.4 million, an increase of 2 per cent.

The data was released in a quarterly bulletin issued by the Department of Statistics.

Employment income was up 2 per cent, or $17.6 million, with payroll tax increasing in all industries except for construction, banking, insurance, real estate, transport and communication.

The value of imported goods fell by just under 1 per cent to $216.1 million.

During the first three months of the year gross receipts for cottage colonies and housekeeping improved by $1.7 million, however receipts for hotels and guest houses edged lower.

The interest on public debt paid by Government increased from $32.2 million to $42 million for the quarter, year-on-year.

Revenue generated from vacation and business visitors was up $13 million compared with the same three months in 2014. The boost was equally split between air visitors and cruise passengers.

See Quarterly Bulletin in related media for full release.