Government clears €564.2 million in outstanding debts

The General Accounting Office of the Republic announced that a significant sum of €564.2 million has been cleared by the government from November 2013 to April 2024. This extensive effort aims to address outstanding debts owed to various government departments and agencies.

Detailed data disclosed by the General Accounting Office on Friday revealed the breakdown of these cleared amounts. Out of the total sum, €356.8 million has been allocated to the Tax Department, €123 million to the Social Security Services, and €84.4 million to other government entities.

For the month of April 2024 alone, €6 million was successfully cleared, with €4.7 million designated for the Department of Taxation, €1.2 million for the Social Security Services, and €0.1 million for other governmental bodies.

Comparatively, in March 2024, a total of €6.4 million was netted, with €4.8 million attributed to the Department of Taxation, €0.9 million to the Social Security Services, and €0.7 million to other government departments.

Included in the cleared sum is €1.1 million derived from deductions from salaries, wages, and pensions. These deductions address outstanding fines owed to the Republic of Cyprus by state employees, hourly government personnel, and pensioners.

The comprehensive effort to clear these outstanding debts underscores the government's commitment to fiscal responsibility and financial stability.