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...
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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....
President welcomes 2018 budget
President Nicos Anastasiades expressed his satisfaction on Thursday over the approval by the House plenum of next year’s state budget. The budget, he said, is...
House passes supplementary budget
The supplementary state budget for 2017 was passed on Friday by the House, even as opposition parties accused the government of timing the vote for...
Cabinet earmarks €20m to compensate Etyk members in major U-turn
Finance Minister Harris Georgiades said that taxpayers will have to pay additional €20m to compensate members of provident funds for their losses in the 2013...
EAC wants another €45 million for this year
The state-owned Electricity Authority of Cyprus (EAC) is requesting an additional €45 million for this year, mostly to cover the higher-than-expected cost of fuel purchases...
Finance minister says economy in ‘virtuous circle,’ to grow 4% this year
Finance Minister Harris Georgiades said the Cypriot economy will expand 4 per cent this year, up from a previous forecast of 3.5 per cent, and...
