NewsLocalPaphos: €1.8 million surplus for Peyia municipality in 2020

Paphos: €1.8 million surplus for Peyia municipality in 2020

Municipal authorities in Peyia have announced a surplus of €1.8 million which is provided for in the 2020 annual budget approved by the Municipal Council on Tuesday evening.

As Peyia mayor Marinos Lambrou told Phileleftheros, it is well-know that Peyia municipality is a profitable local authority and this is backed by the official numbers.

“As per next year’s budget, we will have an income of €8.3 million and expenses of €6.4 million. The surplus together with €5 million bank deposits will go towards large-scale construction projects like the rebuilding of Michalakis Kyprianou Street that connects Peyia’s residential core with the Coral Bay tourist area and the construction of a sea-side promenade that will begin at Potimo Bay in Kissonerga and end in St George fishing harbour in Peyia,” Lambrou said, adding that these projects will begin immediately while tenders will also be invited regarding a breakwater project at a local beach.

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