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Cyprus News Agency: News in English, 06-12-22
CONTENTS
[01] HOUSE - STATE BUDGET DEBATE
[01] HOUSE - STATE BUDGET DEBATE
The Cyprus House of Representatives after a three-day debate approved
late Thursday the state budget for 2007, Cyprus` last budget before its
entry to the EU Economic Monetary Union (EMU) on January 1 2008.
The budget was approved by 36 votes in favour and 16 votes against.
Coalition parties, left-wing party AKEL, Democratic Party and Social
Democrats Movement EDEK as well as the European Party and the
Ecologists and Environmentalist Movement voted in favour, while main
opposition party Democratic Rally (DISI) voted against.
The budget provides for revenues amounting to 3.31 billion Cyprus
pounds (one pound trades at approximately 2 US dollars) compared with
3.19 billion pounds during 2006, showing an increase of 3.8%. It also
provides for 4.07 billion pounds in expenditure, compared to 4.03
billion pounds in 2006, showing an increase of 0.9%. Furthermore,
Cyprus budget deficit projected to drop to 1.5 percent of the gross
domestic product this year, almost half a percentage point better than
earlier forecasts.
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