Insider Economy Sources say revised state budget for 2021 ready

Sources say revised state budget for 2021 ready

The revised state budget for 2021 is ready while Finance Ministry staff are reviewing the final touches on measures to support the economy and businesses affected by the measures to contain the Covid-19 pandemic, reliable sources have told CNA.

The House of Representatives plenary rejected the state budget for 2021 on December 17 last year.

Following meetings at the Presidential Palace on Tuesday, the Ministries of Finance and Labour are looking into the adjustments which will be made on the measures to support the real economy, sources have told CNA. Finance Ministry schemes have to do with covering businesses` operational expenses while Ministry of Labour schemes have to do with covering the cost of payroll.

Finance Minister Constantinos Petrides is set to present on Friday to political party leaders the revised budget for 2021. The same sources believe it is likely that he will also outline initial thoughts on the revised support measures in light of new restrictions to contain the pandemic.

Political party leaders will participate in a meeting chaired by Cyprus President Nicos Anastasiades, in the presence of House of Representatives President Adamos Adamou for the state budget, at the Presidential Palace, on Friday, January 8, at 1000 hours local time.

(CNA)

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