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President Christodoulides announces a 2025 budget surplus

The government will achieve a budget surplus for 2025 President Nikos Christodoulides has told his Ministers during a Cabinet meeting on the budget.

The President on 8 July told his Cabinet members that there are some "flagship policies" that need to be discussed, such as digital transformation, bold reforms, climate change and policies to tackle infertility.

President Christodoulides said that he had specifically asked the members of the Cabinet to look in detail at the budget of each Ministry, to categorise the inflexible, operational costs, which cannot be avoided as well as the social and development costs.

The President noted that the government has a social contract with the people and he is there, along with his government, to implement it. He went on to say that the priorities of each Ministry must be completely aligned with the budget ceilings.

The President also said that he expects better use of each Ministry's budget and especially in the sectors of development and social spending.

He also said that the budget will be presented to the people and each Minister will also unveil the Ministry’s budget during press conferences. The President also referred to a strong economy based on three pillars namely fiscal responsibility, a strong financial system and bold reforms.

Moreover the government Spokesperson Konstantinos Letymbiotis speaking to the press after the meeting of the Cabinet said that the Ministries of Labour and Social Insurance, Energy, Trade and Industry, Foreign Affairs and the Deputy Ministries of Tourism, Research, Innovation and Digital Policy, Culture, Immigration and International Protection have outlined their priorities whereas a new meeting will be set for the rest of the Ministries and Deputy Ministries.

He also referred to a social contract with the citizens adding that the budget will be in surplus.

Letymbiotis also said that emphasis will be placed on supporting the middle class and explained that each Minister and Deputy Minister presents the actions and reforms set to be achieved.

He said that the annual budget must reflect, to the greatest extent possible the vision of the President of the Republic himself and the priorities of his governance program.

(Source: CNA)

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