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Cyprus

The Ordinary Budget

The major sources of revenue of the Ordinary Budget included direct taxes; indirect taxes; loan proceeds; sales of goods and services; interest, dividends, rents, and royalties; and foreign grants. Revenue in 1987 from direct taxes was Cú107 million, or 27 percent of the total revenue for the Ordinary Budget; revenue from indirect taxes was Cú151.3 million, or 38.2 percent; and proceeds from loans were Cú68 million, or 17.2 percent. These three main sources of revenue brought in 82.4 percent of the total revenue of the Ordinary Budget.

The major expenditures of the Ordinary Budget were salaries, fees, and allowances; public debt charges; and subventions and contributions and subsidies. Salaries, fees, and allowances accounted for 33.9 percent of total expenditures in 1987; public debt charges, 30.7 percent; subventions and contributions, 9.4 percent; and subsidies, 6.1 percent. The Ordinary Budget showed deficits of Cú17.9 million in 1985, Cú12.5 million in 1986, Cú32.1 million in 1987, and Cú28.7 million in 1988.

Data as of January 1991