As expected, the budget – the last while the economic adjustment programme is in force- got the nod from ruling DISY, DIKO and the European Party (EVROKO).
Main opposition AKEL, EDEK, the Greens, the Citizens Alliance and independent MP Zacharias Koulias voted against.
The budget provides for €5.941bn in revenues, corresponding to 33% of GDP, and expenditures of €6.636bn.
In 2016, the state will spend €576m on servicing its debt.
Operational expenditures are budgeted at €1.057bn, compared to €1.019bn for 2015.
Source: Cyprus Mail
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Digital assets are no longer a niche, but a part of modern finance attracting a growing number of investors – and there is immense potential for Cyprus to become a leading cryptocurrency hub. By fostering a more inclusive regulatory ecosystem, Cyprus can diversify its financial services sector and position itself at the forefront of digital finance, says Georg Bühler, Managing Director of Mount Pelion Capital.
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