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Cabinet approves second supplementary budget for 2021

16/06/2021 15:56

The Cyprus Council of Ministers approved on Wednesday a second supplementary budget for 2021 amounting to €148.5 million.

A press release issued by the Finance Ministry said that the new supplementary budget corresponds to 0.71% of GDP.

The supplementary budget provides for the establishment of the Deputy Ministry for Welfare and the creation of the position of Welfare Deputy Minister and the Permanent Secretary of the Deputy Ministry.
The budget also aims to cover increased fiscal needs for the support schemes for companies and self -employed persons to tackle the impact of the Covid pandemic with €20 million, €10 million for a scheme to support low-income pensioners, €19 million for allowance to asylum seekers due to increased migrant inflow and medicine purchases with €10 million.
Furthermore, an additional €45 million is earmarked for defence, €11 million for Civil Aviation equipment, €5 million for grants to farmers, the Ministry added.
The new supplementary budget will be submitted to parliament with the request to be approved in an expedited process. This is the second supplementary budget approved in 2021 following the 250-million supplementary budget approved in end-March.