InsiderEconomyDevelopment spending up despite the pandemic crisis, says Finance Minister

Development spending up despite the pandemic crisis, says Finance Minister

Despite the pandemic crisis the government has increased the development spending to boost the recovery, Finance Minister Constantinos Petrides has said.

Speaking Saturday evening during the inauguration of the 1st phase of the reconstruction and revamping of a central avenue at the Municipality of Ypsonas, Limassol , the Minister said that this project was delayed because of the  financial crisis of 2012-13, adding that due to prudent financial management, not only have we not cut the budget in development projects, but on the contrary, to boost the recovery, we have increased development spending, using funding and project subsidy by the EU.

The Finance Minister said that we cannot have a new setback, adding that unless this pandemic is over, nothing is for granted for our health, the economy, the development spending or other policies. He reminded the measures by the Cabinet to assist and support those affected by the pandemic and pointed out the personal responsibility of each one of us in order not to have major setbacks again.

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