Cyprus Mail
Cyprus

Coronavirus: local authorities say in dire financial straits 

The union of municipalities

The union of municipalities warned Friday they were in dire financial straits, and appealed to the government for assistance, as the second lockdown was expected to make things even worse.

Following a teleconference, the union said unlike the rest of the EU, Cyprus has not afforded any assistance to local authorities to help with the fallout from the pandemic.

The union said the second lockdown was expected to “dramatically” worsen the municipalities’ finances, as it would be impossible for them to collect a large share of the revenue they had budgeted.

“It is expected that the emergency situation we are going through will extend into the first months of 2021, with all that entails,” a union statement said.

The union added that as opposed to the state, they had no access to funding facilities because of the pandemic and proposed that the government allocated the €6m set aside for them.

It also asked for further assistance in the next year and finding ways for the to borrow in a bid to deal with their cashflow problems and avoid default.

 

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