Cabinet approves 2018 budget aiming at 1% of GDP surplus

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Cabinet approves 2018 budget aiming at 1% of...
 © BusinessMail 2017
By Stelios Orphanides

The cabinet approved on Wednesday the government budget for next year which provides for more than €7.5bn in spending and in excess of €7.7bn in revenue which take into account accelerated growth rates, the finance ministry said.

“A 3.4 per cent increase in both revenue and expenditure is registered with an expected fiscal surplus of 1 per cent of gross domestic product,” the Ministry of Finance said in the proposal submitted to the council of ministers. The ministry revised its fiscal forecast for this year from initially a surplus of 0.2 per cent of economic...


Cabinet approves 2018 budget aiming at 1% of GDP surplus


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