Port budget discussion focuses on ‘failure’ of privatisations

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Port budget discussion focuses on ‘failure’ of...
 © CyprusMail 2018
The House finance committee on Monday wrapped up the discussion of the 2017 budget for the Cyprus Ports Authority (CPA), amid criticism from opposition MPs that the privatisation of Limassol port has been a failure.

The CPA’s budget will be going to the House plenum for a vote this Friday.

The authority’s expected revenues are €34.49m. Ordinary expenditures come to €24.34m, and contingencies an additional €1m.

This produces a surplus of €9.14m.

But factoring in prior development costs of €36.19m, the balance sheet will post a deficit of €27.05m.

Thrasos Tsangarides, a...

Port budget discussion focuses on ‘failure’ of privatisations

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