Cyprus Adopts 2012 State Budget

Cyprus Adopts 2012 State Budget

The Cypriot Parliament adopted the 2012 state budget which sets as top priority narrowing the country's deficit to 2.4% of the gross domestic product from 6.0% currently.

The strict measures for reducing costs and increasing revenues are in response to the EU requirements for tight fiscal policy, state-run Bulgarian National Radio (BNR) reported.

The salaries in the public sector will be frozen for two years under the budget, which also scraps some beneficial payments, as well as financial aid and grants for families and students.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.