07/08/2003 13:10
The “Technical Committee” of the Finance Ministry has already prepared the package of measures aiming at the increase in state revenues and the decline in public spending. StockWatch sources reveal that the final shape will be decided shortly by the Finance Minister, Marcos Kyprianou and his close associates from the Committee.
It is worth noting that the Committee had submitted to Mr. Kyprianou the relevant “Memo” of proposals and had been instructed by the latter to register the practical application before its submission to the Council of Ministers.
According to StockWatch sources, the measures concern the development of the current tax system, the increased revenues with the reexamination of all duties, the restraint of expenses and the avoidance of all painful decisions, such as the imposition of new taxes and the freezing of the state payroll.
It is worth noting that the Committee had submitted to Mr. Kyprianou the relevant “Memo” of proposals and had been instructed by the latter to register the practical application before its submission to the Council of Ministers.
According to StockWatch sources, the measures concern the development of the current tax system, the increased revenues with the reexamination of all duties, the restraint of expenses and the avoidance of all painful decisions, such as the imposition of new taxes and the freezing of the state payroll.
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