Cyprus Mail
Cyprus Featured

President trails his ministers in declared assets (Updated)

Health minister Giorgos Pamboridis

Until his recent resignation, former interior minister Socratis Hasikos was the wealthiest member of the cabinet with over €3m in assets but the release of capital statements by senior officials and MPs on Monday showed health minister Giorgos Pamboridis was now top dog with assets of €2.9m.

All of the cabinet members bar labour minister Zeta Emilianidou, who is worth only €25,121, left President Nicos Anastasiades, formerly a successful lawyer, surprisingly trailing behind with assets valued close to only €180,000 and a mixed income of €200,000.

Ruling Disy’s Averof Neophytou was the wealthiest among MPs in terms of hard assets with immovable property valued at €7.25m. Solidarity’s Eleni Theocharous is also doing nicely with deposits of €239,271. She collects a widow’s pension as well as multiple government pensions worth around €60,000 per year and her annual salary as MEP comes to €100,000.

The financial statements were released as part of the 2016 law on disclosure of politically exposed persons and government officials. The law does not provide for the financial statements of spouses and children to be published as the supreme court ruled this unconstitutional in May, but they must file the information to the House for review during the next submission in three years’ time.

Edek leader Marinos Sizopoulos, whose worth appeared low by comparison to most of the officials, alluded to this when he said the disclosures were “in essence a mockery of the people and an insult to their intelligence”.
“In order to be credible, this process should essentially include all first-degree relatives of the particular political and state official,” he said. He was the only MP who commented on the disclosures. The released figures show that while many party leaders and ministers all appear to be flush, with worth ranging from €911,000 for energy minister Giorgos Lakkotrypis up to Pamboridis’ €2.9m in assets, Anastasiades less-than jaw-dropping disclosures appeared puzzling.

Anastasiades’ capital statement showed the president with property worth €66,000 and only €6,138 in bank deposits, €6,795 shares in public companies and €100,000 worth of vehicles. His cars are a 2012 Audi A8 worth €85,000 and a 2001 Mercedes worth €15,000.

The president has had no income from private companies or shares in private companies since March 2013. He specified all his shares have been donated to his two daughters.

His property includes two flats in Limassol, one of which was purchased in 1985 at a cost of €28,000 and the other in 1983 at a cost of €38,000.

He has shares from 12 pieces of land and a vineyard in the Limassol district. His capital statement specifies no purchasing cost as they were donations from relatives.

Anastasiades’ mixed income amounted to €203,323 in 2015.

His salary for his presidential position was €163,165 and his social insurance pension was €16,822 while his lawyer’s pension fund amounted to €17,366. Anastasiades also had €6,000 income from apartment rentals.

In 2015, he was paid €48,345 as a pension for retiring from parliament with €23,848 tax deductions. The remaining €24,497 was donated to the Independent Social Support Fund, a charity founded by First Lady Andri Anastasiades to help students that were forced to discontinue their studies due to the economic crisis.

As far as the ministers were concerned, the bulk of Pamboridis’ wealth comes from ownership of property worth over €3m but he also has loans of €651,000, and only €11,000 in the bank.

With a net worth of €911,000, Lakkotrypis has €236,000 in the bank, property valued at €458,000 and investments of €188,000. He has a state income of €174,000 and loans of €85,000.

Justice Minister Ionas Nicolaou, finance Harris Georgiades, education Costas Kadis and defence Christoforos Fokaides are all worth in or around €500,000.

Kadis and Nicolaou each have properties worth around €1.5m.

Transport’s Marios Demetrides and foreign minister Ioannis Kasoulides are higher in the wealth stakes worth €646,000 and €651,119 respectively. Agriculture minister Nicos Kouyialis clocks in much lower than his colleagues at €283,000, and Emilianidou is the least wealthy member of the cabinet, according to the disclosures.

Emilianidou owns shares at Sigma Radio but her statement reveals that she has the lowest cash deposits of all cabinet members at just over €7,600, though in addition to her state income of €175,247- the highest paid of all the ministers- she also receives a state pension of €11,372 but she does owe €113,000 to the bank.

Georgiades, Fokaides and Kadis owe nothing to the bank. Kouyialis owes €233,000 to the bank, and newly-appointed Interior Minister Constantinos Petrides €266,000, whose net asset figure was not provided.

Kasoulides has the highest amount on deposit with over €600,000. He has a salary of €146,626 and additional income of €75,000 that includes a state pension and income from rent. He also has properties worth €651,111 and owes less than €5,000 to the bank.



The statement can be viewed in full here.


Related Posts

Criminalisation of conversion therapy under microscope at House

Sarah Ktisti

Girl reports she was sexually harassed while in school (updated)

Gina Agapiou

Russia launches new assault on eastern Ukraine towns

Reuters News Service

Coronavirus: Majority of advisory committee back scrapping masks indoors

Staff Reporter

A Saturday dedicated to wellbeing

Eleni Philippou

Tseri Avenue fire under control (Updated)

Staff Reporter


Comments are closed.