Budget development expenditure implementation at 35% at end of September

The implementation percentage of the governments development expenditure as it was estimated within the budget for 2018 stood at the end of September at 35%.

The Treasury published on Wednesday an implementation statement of the annual state budget for the first nine months of this year.

According to the data, the implementation percentage of the states revenue was recorded on September 30 at 72% or Euros 4.56 billion compared to the 6.33 billion included in the budget for 2018 as a whole.

The budgets implementation for revenue derived from direct taxes came at the end of September to 72% or Euros 1.61 billion compared to Euros 2.22 billion projected for 2018. Revenue from indirect taxes reached at the same time 75% of what was projected for the entire year of Euros 2.32 billion.

At the same time, the budgets implementation on general expenditure had reached 63% or Euros 4,13 billion.

According to the data total development expenditure budgeted for stood at the end of September at 35% or Euros 296.8 million. Budget implementation for development expenduture at the same period in 2017 stood at 34%.

Source: Cyprus News Agency