State budget implementation rate in first five months marginally changed from last year

The State Budget implementation rate in the first five months of the year remained relatively unchanged compared to the same period last year, both in terms of revenue and expenditure.

Based on the first State Budget implementation report, published on Wednesday by the Treasury, the total budget implementation rate for the first five months in terms of revenue stood at 38% or Euros 2.33 billion euro, out of a total of Euros 6.04 billion euro projected for the whole year and from Euros 2.15 billion euro, in the same period last year.

In terms of expenditure, the implementation rate was 35% or Euros 2.34 billion, out of Euros 6.64 billion and compared to Euros 2,27 billion, during the same period in 2016.

Source: Cyprus News Agency