Cyprus The Ordinary Budget
Sources: The Library of Congress Country Studies; CIA World Factbook
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 C£107 million, or 27 percent of the total revenue for the Ordinary Budget; revenue from indirect taxes was C£151.3 million, or 38.2 percent; and proceeds from loans were C£68 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 C£17.9 million in 1985, C£12.5 million in 1986, C£32.1 million in 1987, and C£28.7 million in 1988.
Data as of January 1991
NOTE: The information regarding Cyprus on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Cyprus The Ordinary Budget information contained here. All suggestions for corrections of any errors about Cyprus The Ordinary Budget should be addressed to the Library of Congress and the CIA.