Minister presents state budget 2017 before the House Finance Committee

The Governments efforts and plans aim to strengthen and encourage the economic activity and the consolidation of healthy growth, said Finance Minister Harris Georgiades, presenting before the House Finance Committee the state budget for 2017 and the Medium Term Financial Framework for the period 2017 -2019.

The Minister said that this was the first budget prepared after the exit of Cyprus of the Memorandum of Understanding and will be the fourth balanced budget in a row. He added that this prudent management of state finances allows a series of very significant tax cuts from 2017, which are expected to give further impetus to the economic activity, to support and encourage growth of which is now one of the highest in the EU.

Source: Cyprus News Agency.