Cyprus Mail 9 May 2020 -Cyprus News Agency
The finance ministry has slashed €367 million from public expenditure as part of a revision of the 2020 state budget amid the coronavirus crisis.
The government savings were passed by the Council of Ministers.
Giorgos Panteli, permanent secretary of the finance ministry, told the Cyprus News Agency that the savings were found after cutting spending earmarked for trips abroad, overtime, allowances and the hosting of conferences.
He added that the government has decided to freeze hiring in the public service and promotions. A freeze in hiring and promotions has been in place since 2013 when Cyprus applied for financial assistance from the EU and the IMF. Following Cyprus’ exit from the economic assistance programme, the government extended the freeze with hiring and promotions carried out only after approval from the House finance committee.
Panteli said the ministry will issue a circular calling on state owned organisations and local authorities to follow suit with spending cuts.
