Eleftheria Paizanou
Reducing revenue loss and taking measures to collect debts to the state, calls on the general director of the Ministry of Finance, George Pantelis, the ministries and government services to proceed during the year. In a circular issued on the occasion of the approval of the state budget of 2022, last month the Parliament proceeded with strict recommendations.
“Given the difficult financial situation due to the continuation of the Covid-19 pandemic, every possible effort should be made to minimize the loss of revenue. “All necessary measures must be taken to recover the arrears,” said the director general of the Ministry of Finance. At the same time, it refers to the expenditure ceilings set per ministry, sub-ministry and independent service and which were included in the 2022 budget. strategic plans of the ministries / sub-ministries / independent services to avoid the submission of additional budgets to the Parliament.
At the same time, the director general of the Ministry of Finance indicates that special emphasis should be placed on the implementation of development expenditures and other expenditures, which will help revitalize and recover the economy. The director general of the ministry made this suggestion as every year the implementation rate of the state development budget is low, with the result that many millions remain in the state coffers and are not drawn from the ministries and government services.
It is recalled that according to data from the General Accounting Office, by November 2021 only 43% of development costs have been raised, ie, from the total amount of € 1.03 billion included in the state budget, only € 445 have been utilized. In addition, in the circular of the Ministry of Finance, Mr. Pantelis emphasizes that the implementation of the projects of the Recovery Plan is expected to significantly contribute to the acceleration of growth and the strengthening of economic activity.
It should be noted that through the Recovery Fund Cyprus by 2026 will receive an amount of € 1.2 billion after previously implementing 56 reforms and 75 investments. “It is up to each of us to utilize the available resources in the best possible way, in order to contribute to our rapid exit from the socio-economic crisis that has led us to the Covid-19 pandemic,” added the director general of the Ministry of Finance. Concluding, he states that he looks forward to the cooperation of the other ministries for the rational implementation of the state budget of 2022, based on the legislative and other regulations.
The circular also informs about the 45 amendments approved by the Plenary Session of the Parliament during the approval of the state budget. Among other things, 7% of the funds related to operating expenses were cut, as well as a 10% reduction in expenses related to staff training, conferences, seminars, as well as consulting services and research. In addition, reference is made to the funds that have been crossed and to the credits for which the Parliament will be informed at regular intervals.
