Cyprus Mail
Cyprus

Parliament passes supplementary budget of €295m

The plenum on Friday passed a supplementary budget of €295 million with 24 votes for and 18 abstentions.

A report submitted by the parliament’s finance committee prior to the vote said that the supplementary budget would not disrupt the fiscal balance because from the €295m set to be added to the state budget, €84.2m concerned funds for intergovernmental exchanges.

The total supplementary budget will be €295,014,246, and is estimated to burden GDP by 1.4 per cent, but is not expected to alter the government goal of having a surplus of 2.9 per cent GDP.

Additional funds were added to the budget for various government expenditures. It includes €4.6m for public sector wages, €90.7m for operating costs, €31.5m for agricultural subsidies and compensation, €29.5m for social benefits, €12.8m for education, €21m for health, €84.2m for semi-government organisations, €44.4m for defence, and €16.6m for additional needs.

The total comes to €335.3m but €40.3m will be covered by savings made in other government sectors, leaving €295m.

Related Posts

Over 43,000 people visited museums and sites in Larnaca so far this year

Staff Reporter

Mother of little Asya slams authorities in north for failing to provide meds and supplies

Gina Agapiou

Bank of Cyprus ‘unequivocally’ rejects Lone Star’s takeover proposal (Updated)

Jean Christou

Cyprus’ role in Greek spy scandal will come to the fore, Papadakis says

Online Cyprob meetings to resume next week

Sarah Ktisti

Kypria International Festival opens on September 6

Eleni Philippou