The 2022 state budget will be characterized with the transition from COVID support measures to economic recovery, Finance Minister Constatntinos Petrides has said, as Minister of Labour, Zeta Emilianidou said Covid-19 income support measures will be abolished in October.
In statements on Saturday, Petrides said that the state budget of 2020 and partly of 2021 featured measures to support employment and the real economy due to the COVID pandemic, and these measures have yielded results.
“Unemployment has been reduced drastically, indices for consumption and transactions are high, tourism has performed better than estimated,” Petrides said and added “therefore, the 2022 state budget will feature the transition from support to growth and that’s why development expenditure is increased by 10% to 12%.
Source: Cyprus News Agency