Cabinet approves €7.5 billion budget for 2018

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Cabinet approves €7.5 billion budget for 2018
 © In-Cyprus 2018
The Cabinet on Wednesday approved the 2018 budget and the medium-term fiscal framework 2018 – 2020, which Finance Minister Harris Georgiades described as balanced and focused on growth.

Total expenditure is forecast to reach €7.53 billion while income will come to €7.72 billion.

An increase of 3.4% is projected in both income and expenditure, with an expected fiscal surplus of 1% of GDP.

Georgiades who presented the budget and the fiscal framework to his colleagues said that it includes a series of important projects and new policies.

“The budget has been approved by the Cabinet and it will be submitted to Parliament to be debated and voted on in time,” Georgiades said.

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This article was automatically added to our system 13-9-2017

Cabinet approves €7.5 billion budget for 2018


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