News Local €2.8 m surplus for Paphos Municipality in 2019

€2.8 m surplus for Paphos Municipality in 2019

€2.8 m surplus for Paphos Municipality in 2019

Paphos Municipal Council has approved its 2019 budget which provides for a surplus of €2.8 m.  Revenue is budgeted at €23 m and expenditure at €20 m. The municipality’s debt has fallen from €37 m to €24 m.

Mayor Phedon Phedonos said the state has undertaken to pay €11 m of this debt, reducing the municipality’s obligations even further.

 

By Bouli Hadjioannou
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