Budget implementation stood at 43% in first half of 2017, Treasury says

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

A total of Euros 2.89 billion expenditure until June 2016 out of a projected Euros 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 Euros 0.18 bl have been disbursed from the total projected expenditure amounting to Euros 0.788 bl.

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

Revenue from direct taxes reached 39% of the projected revenue of Euros 2.12 bl, while revenue from indirect taxes amounted to Euros 1.49 bl or 51% of the projected revenue for the entire 2017 totalling Euros 2.87 bl, the Treasury said.

Source: Cyprus News Agency