No room for complacency says minister as budget presented
New Finance Minister Constantinos Petrides warned against complacency on Friday, as the effort to bolster the Cypriot economy has not finished yet and more reforms...
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MPs say they will reject ‘indirect privatisation’ budget for CyTA
Three opposition parties on Monday said they would not approve a budget earmarked for studies on whether CyTA should sell shares and forge partnerships arguing...
Education minister outlines spending plans for ministry
Education Minister Costas Hambiaouris on Wednesday said photovoltaics would be installed in schools as of 2020 while nine STEM (Science, Technology, Engineering, Mathematics) schools have...
‘Skyscrapers are not mushrooming…Cyprus won’t turn into a Manhattan’, says Petrides
Interior Minister Constantinos Petrides pledged on Thursday that Cyprus would not be turned into Manhattan during House discussions on his ministry’s budget when the topic...
Georgiades still plans to resign by the end of the year
Finance Minister Harris Georgiades said on Tuesday he still planned to leave his post by the end of the year at a time decided by...
Finance minister hands over another balanced budget
Finance Minister Harris Georgiades on Friday submitted the 2020 budget to parliament, the last one drafted under his term at the ministry, which he will...
Cyprus seeking more EU funding for 2021-2027 period
Cyprus is seeking more European funds under the EU’s next budget for the period 2021-2027 to address a number of challenges arising from being a...
Anastasiades vetoes House bill to set its own budget
Citing constitutional issues, President Nicos Anastasiades has refused to sign into law a bill passed by parliament to make the legislature financially independent so that...
Constitution changed allowing House to draft own budget
Parliament on Friday changed the constitution to make the legislature financially independent in that it can now draft its own budget without the executive’s involvement....
House to vote Friday on HIO budget
Parliament will on Friday be voting on the 2019 budget for the Health Insurance Organisation, the public entity tasked with managing the National Health Scheme...
Budget passes: 30 votes in favour to 24 against
By Lizzy Ioannidou THE state budget for 2019 was approved on Friday night with 30 votes in favour and 24 against, with MPs across all...
Disy and Diko submit bill for cut in fuel tax
Despite the government’s disagreement, the leaders of ruling Disy and Diko on Friday submitted a bill that cuts fuel tax by five cents a litre....
Reforms should be a national goal, FinMin tells parliament
Finance Minister Harris Georgiades urged parties Friday to back structural reforms and consider them a national goal that will change the country and maintain economic growth....
Central bank boss warns against ‘unreasonable’ government spending
Central Bank of Cyprus (CBC) Governor Chrystalla Giorghadji on Monday warned there should be no complacency in the management of public finances due to improvement...
UK borrowing to fall, opening way for end of austerity – Hammond
British finance minister Philip Hammond announced a fall in the country’s expected borrowing needs between now and the mid-2020s as he began his final budget speech before...
EU executive rejects Italian 2019 draft budget
The European Commission rejected on Tuesday Italy’s draft 2019 budget because the plan breaks EU rules in an “unprecedented” way and asked Rome to submit...
Cabinet passes budget, slashes defence levy (Updated)
By Stelios Orphanides The cabinet on Thursday approved the 2019 budget and the budgetary framework over the next three years, including a reduction of the defence...
Government generates €297m budget surplus in Q1
The government generated a fiscal surplus of €297.3m in the first three months of the year, compared to a surplus of €166.3m in the respective...
Government generates €255m surplus in January
The government generated a fiscal surplus of €255m on a cash basis in January, compared to €168m in January last year, as the increase in...
Treasury says 2017 government revenue exceeds expectations by 7%
The Treasury said the government’s actual revenues last year rose to €6.5bn from €5.9bn the previous year, against over €6bn provided in the 2017 budget....
