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22 May, 2024
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Cyprus 2019 budget to create 3% surplus

Projected revenue of € 8.5 billion, expenditure € 7.9 billion


Finance Minister Haris Georgiades spoke of a growth and surplus budget following the approval by the council of ministers of the 2019 government budget.

The budget for 2019 provides for revenue of 8.5 billion euro and expenditure of 7.9 billion euro, thus creating a surplus of 3% of GDP.

Included in the budget are plans for the construction of Limassol - Saittas road, the Nicosia Limassol motorway - Tseriou avenue connecting road and the highly anticipated Paphos - Polis Chrysochous road (first phase between Agia Marinouda and Stroumbi).

There are also plans for new facilities for the Nicosia District Court and the creation of a Commercial Court.

Minister of Finance Harris Georgiades submitted on Tuesday the state budget to House President Demetris Syllouris, who said that by beginning of December the discussion will be concluded before the House Committee on Finance and that the House will vote on the budget on time.

Georgiades said that the state budget has increased expenses which allows for new projects, new programs, e-governance and infrastructure.

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