|
|
|
Cyprus News Agency: News in English, 11-11-11
CONTENTS
[01] COUNCIL OF MINISTERS - ECONOMY - NEW MEASURES
[01] COUNCIL OF MINISTERS - ECONOMY - NEW MEASURES
New measures aiming to constrain public expenditure and consolidate
public finances are expected to be discussed at a Cabinet convention
schedule to take place Friday afternoon. The Ministerial Council is
also expected to take decisions regarding social benefits.
President of the Republic, Demetris Christofias said on Wednesday that
the Cabinet will be called upon to decide on new measures and the
targeting of social benefits.
President Christofias underlined that Government is working
methodically with a clear view not to burden the lower income
citizens.
Finance Minister Kikis Kazamias in a statement to the Press on Thursday
said that the Cabinet will conclude Friday discussion on the targeting
of social benefits, and the bill will be submitted to the Parliament on
Monday. The Government estimates that the measure will lead to a saving
of around 200 million euros per year in a time when international
rating agencies warn of the need to consolidate public finances and
restrain public deficit, whereas the European Commission requests that
measures be adopted prior to December 15, to ensure budget deficit
reduction below 3% of GDP by 2012.
|
