Council of Ministers approves 2017 state budget

The Council of Ministers approved on Tuesday the 2017-2019 Medium Budgetary Framework and the 2017 state budget, the first to be drafted following Cyprus exit from the three-year economic adjustment programme.

The 2017 state budget, which is based on the directives of the 2017-2019 Fiscal Policy Strategic Framework, approved by the cabinet last May, is balanced placing special emphasis on the implementation of development projects that have been promoted throughout Cyprus, including projects co-financed by the EU.

The budget aims to assist the government to achieve the strategic target of securing the conditions for sustainable growth through further improving competitiveness, creating jobs and reducing unemployment.

Source: Cyprus News Agency.