House Plenary begins discussion on State Budget

The House of Representatives convenes in a plenary session on Wednesday to begin a three-day discussion on the State Budget for 2019.

The annual meeting will be preceded by a plenary to discuss the proposed bill for a reduction in consumer tax on fuel.

A total of 48 government amendments have been submitted for the State Budget and various others by parliamentary political parties.

The discussion will begin with the presentation of the report prepared by the Committee on Financial and Budgetary Affairs, followed by speeches by leaders or representatives of the parties.

The State Budget provides for Euros 5,457,370,805 expenditure, while the government amendments increase it by Euros 16 million. Total revenue is forecast at Euros 6,668,435,492. Total expenditure, including loans, is Euros 9,054,250,687.

For the years 2020 and 2021, total expenditure is forecast at Euros 9,406,578,424 and Euros 9,096,771,268 respectively.

The Committee on Financial and Budgetary Affairs says in its report that the economy, based on figures submitted by the Minister of Finance, continues to grow, and that medium-term prospects are positive.

Source: Cyprus News Agency