Finance minister hands over balanced 2020 budget

Finance Minister Harris Georgiades recently submitted the 2020 budget to parliament, the last one drafted under his term at the ministry, which he will be leaving by the end of 2019.

The budget provides for €10 billion in revenues and €9.4 billion in expenses, a 2.7% surplus or 5.1% excluding debt servicing.

“It is the seventh budget I am handing over to parliament on behalf of the government and I can say with pleasure that this too is a budget without deficits,” Georgiades said. “We operate with balanced budgets, or more precisely, with fiscal surpluses, one of the key conditions for our economy’s sustainable growth.”

Source: Cyprus Mail