Cabinet approves €7.5 billion budget for 2018

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Cabinet approves €7.5 billion budget for 2018
 © CyprusWeekly 2017
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 approves €7.5 billion budget for 2018


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