Cyprus Mail
Cyprus

House approves 2016 state budget

AFTER two days of debate in parliament, the plenum late on Thursday passed the 2016 state budget.

As expected, the budget – the last while the economic adjustment programme is in force- got the nod from ruling DISY, DIKO and the European Party (EVROKO).

Main opposition AKEL, EDEK, the Greens, the Citizens Alliance and independent MP Zacharias Koulias voted against.

The budget provides for €5.941bn in revenues, corresponding to 33 per cent of GDP, and expenditures of €6.636bn.
In 2016, the state will spend €576m on servicing its debt.

Operational expenditures are budgeted at €1.057bn, compared to €1.019bn for 2015.

 

More later.

 

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