communist party AKEL

Cyprus gov’t spending to rise only 0.6 pct in 2015

The Cypriot Parliament has adopted a government budget that envisions an increase in spending of only 0.6 percent.

The budget forecasts state revenue of 5.928 billion euros compared with 5.952 billion euros in 2014, with spending of 6.660 billion euros.

The House of Representatives approved the tight spending plan late Tuesday by a vote of 29-26.