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ALK's budget for 2022 is slightly in surplus, with budgeted revenues of € 30,460,125 and budgeted expenditures of € 30,413,190.
The Cyprus Ports Authority was summoned on February 14, 2022 before the Parliamentary Finance Committee, in the context of the examination of the Authority's budget by the Commission. The Chairman of the Board of Directors Dr. Antonis St. Stylianou and the General Director of the Authority Mr. Anthimos Christodoulidis presented the submitted budget to the Committee and answered questions of the Honorable Members of Parliament.
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According to the Cyprus Ports Authority (ALK), the Authority's Budget has been prepared under the adverse conditions of the coronavirus pandemic, but also in light of the fact that the ALK's future revenues are shrinking due to the impending commercialization of the Larnaca port. Notwithstanding the above, however, the necessary steps have been taken in order to find such savings and to increase revenue from optimization in the management of ALC resources, so as not to negatively affect the development plan of ALK. The decrease due to the above is offset by the increased revenues that ALK expects in the context of its participation in projects co-financed by European Funds (such as the Recovery and Sustainability Funds and the Cross-Border Cooperation Fund). More specifically, ALK participates in the programs of the above funds and budgets the cost recovery of € 2.1 million within 2022, while the total benefit that will arise for ALK within the three years 2022 – 2024 is expected to amount to € 3 , 7 cm.
It is emphasized that the ALK Budget for 2022 is slightly in surplus, with budgeted revenues of € 30,460,125 and budgeted expenditures of € 30,413,190.