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Outgoing Energy Minister calls for an increase in the Energy Ministry’s budget

01/07/2020 09:55

Energy Minister Yiorgos Lakkotrypis called members of parliament to contribute towards a future raise of the budget of the Ministry of Energy, Trade and Commerce in his final address before the House Committee on Energy on Tuesday.

Following a Cabinet reshuffle, announced last week, Lakkotrypis is stepping down as Energy Minister and will be succeeded by current Shipping Deputy Minister, Natasa Pilides.

Briefing MPs of the House Committee on Energy, Lakkotrypis said that the Energy Ministry had the smallest budget in 2019, amounting to 0.8% of total spending for all Ministries. The budget increased significantly in 2020, however this was due to funding allocated for Natural Gas Public Company (DEFA), he added.

This situation needs to change gradually, he said and called on MPs to help in order to reinforce the budget for one of Cyprus’ most productive Ministries. “As a state, we need to decide where or priorities lie” the outgoing Minister said.

He also said that he was proud about the work accomplished during his term at the Energy Ministry. Among others, he referred to negotiations with the troika of lenders a few days after taking office and to the increase in tourism arrivals, which reached 4 million. Between 2013 and 2019 exports of products and services doubled, Lakkotrypis added.

He also said that natural gas imports are due to start in mid-2022, with the completion of the LNG terminal.

Lakkotrypis thanked finally the members of the House Committee on Energy for their cooperation and for supporting his work in difficult times.