State budget for 2022 provides for “a significant fiscal correction” FinMin says

The 2022 state budget provides for a significant correction of the fiscal deficits accumulated during the Covid pandemic, as Cyprus moves from recovery to growth, Minister of Finance Constantinos Petrides said on Thursday , handing over the state budget to Annita Demetriou, President of the House of Representatives.

Petrides said that Cyprus forecasts a “significant fiscal correction” as the budget deficit is projected to decline to 1.5% of GDP compared with an estimated 5.

Source: Cyprus News Agency