Cyprus approves supplementary budget

The Plenary of Cyprus' House of Representatives approved the supplementary state budget amounting to 361 million euros on Thursday, with criticism against the government's agreement for the purchase of the Metropolitan building in Nicosia, which will house the Ministry of Labor and Social Insurance. This is the second supplementary budget this year, following the approval of the first of €75 million, which was enacted into law in early April. The supplementary budget was passed by 45 deputies' votes, with three abstentions.

The financial burden amounts to 0.85% of GDP, as €116 million represents intra-governmental transactions.

The main expenses concern €60 million for the payment of guaranteed minimum income in the second half of 2023, €60 million for the implementation of co-financed projects/grant schemes, €59 million for water purchases due to the increased cost...