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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 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
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