Cyprus Mail
Cyprus

Three ministers publish finances (Update)

By Angelos Anastasiou

THE MINISTERS of communications, health and education made their finances public on Thursday in the interests of transparency, they said.

Communications Minister Marios Demetriades revealed his current net worth to be €664,882.

According to the information provided by Demetriades, cash in various bank accounts, including his children’s trust funds, add up to €270,623, while his investment portfolio, which includes approximately €80,000 in government bonds, as well as shares in Hellenic Bank, Bank of Cyprus and Primetel, is currently worth €304,588. He also reported owning property valued at €259,268, whereas his total assets were worth €769,991.

In terms of loans and overdraft facilities, Demetriades reported a total amount of €105,109, meaning his current total net worth is €664,882.

Health Minister Philippos Patsalis revealed his current net worth to be €741,180. According to the information provided by Patsalis, cash in various bank accounts add up to €136,104, while his investment portfolio, which includes €50,000 in government bonds, as well as shares in Bank of Cyprus and Louis Plc, is currently worth €131,903. He also reported owning property valued at €428,000, whereas his total assets were worth €820,007.

In terms of loans and overdraft facilities, Patsalis reported a total amount of €78,827, meaning his current total net worth is €741,180.

Education Minister Kostas Kadis revealed his current net worth to be €564,963.

Cash in various bank accounts, including his children’s trust funds, add up to €101,500, while his property, which includes a residence and two plots of land at Latsia, Nicosia, was valued at €1,350,000. Kadis’ total assets were worth €564,963.

The education minister’s statement showed zero loans and overdrafts, meaning his current total net worth is €741,180.

 



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