News Local These are the municipalities receiving the highest state subsidy

These are the municipalities receiving the highest state subsidy

Municipalities will receive almost €71 million in state subsidy in 2019. Six municipalities will absorb half of the funds, while half of the municipalities are set to receive between €1 million and €2 million. According to a relevant Ministry of Finance circular, each Local Authority should prepare its budget, taking into account that the amount of state sponsorship for the period 2019-2021 will remain the same as last year.

The allocation of state grants to municipalities for 2019 will be divided into three parts. €51 million will be the subsidy itself, €7.5 million the subsidy to set off the scrapping of the business tax, that was abolished 14  years ago and €2.1 million to set off taxes once imposed by municipalities to bring in goods and products within their boundaries (usually for municipal markets).

Most of the subsidies will be absorbed by the Limassol Municipality. Limassol will receive €10.4 million, out of these €6.2 million will come from the general state subsidy and €3.5 million and €616,000 from the other two aforementioned categories of grants. Next are the Strovolos Municipality (€6.5 million), Larnaca (€5.8 million) and the Mesa Gitonia municipality (€5.8 million), most of it from the subsidy against the cancellation of the business tax). Nicosia will receive €4,8 million in state subsidy and Paphos €3.4 million. These six municipalities will receive around half of the total of municipality subsidies.

Aglandjia, Kato Polemidia and Lakatamia are set to receive between €2-3 million, while half of the municipalities in Cyprus will receive between €1-2 million. Municipalities like Athienou, Pano Lefkara, Peyia, Polis Chrysochous and Sotira are to receive less than a million.

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