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Budget expenditure implementation reaches 43%

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

There was a total of €2.89 billion expenditure by June 2016 out of a projected €6.73 for all 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.

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A total of €0.18 bl hasbeen 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 bl out of the €6.45 bl of the projected revenues for the entire 2017.

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

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