Local
articles | 21 July 2017

Budget implementation stood at 43% in first half of 2017

Cyprus' budget expenditure implementation reached 43% in the first half of 2017, figures released by the state Treasury show.

A total of €2.89 billion expenditure until June 2016 out of a projected €6.73 for the entire 2017.

Disbursements for development expenditure reached 24% of the projected expenditure for the entire 2017 budget, compared with 23% in the respective period of 2016. A total of €0.18 billion have been disbursed from the total projected expenditure amounting to €0.788 bl.

The rate of implementation of state revenues reached 46% with the state collecting €2.82 billion out of the €6.45 billion of the projected revenues for the entire 2017.

Revenue from direct taxes reached 39% of the projected revenue of €2.12 billion, while revenue from indirect taxes amounted to €1.49 billion or 51% of the projected revenue for the entire 2017.

Source: CNA

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