The central government saw its revenue rise in January to August 2017 by €518.3m to below €4.1bn which matches 67% of total revenue expected to flow to the government’s coffers this year, the Treasury said.
Government spending rose by €135.9m to well below €3.9bn in the first eight months of the year which is 57% of the total budgeted expenditure this year, the Treasury said in a statement on its website on Tuesday.
In January to August, the government collected €2bn in direct taxes compared to €1.8bn a year before, and €1.4bn in indirect taxes compared to €1.2bn, the Treasury said. It also spent €157.5m in capital expenditure, including construction and infrastructure projects, in the same period this year compared to €152.5m a year before.
The central government generated a surplus of €214.3m on a cash basis in the first eight months of the year, according to the Treasury.
Source: Cyprus Mail
