Cyprus Parliament unanimously approved the 4th supplementary budget submitted by the Government for 2021 and concerns mainly the financing of needs that arose due to the pandemic.

The law provides for additional grants of €91.7 million for expenditures concerning the government’s strategy to mitigate the effects of the COVID pandemic in Cyprus, for which there was no provision in the state’s budget.

Among them, the implementation of a Support Plan for the wine sector, amounting to €900,000 and the continuation of the implementation of the special plans by the Ministry of Labour, Welfare and Social Insurance for further support of the economy in August amounting to €5 million.

It also concerns the implementation of the new Incentive Plan for Connectivity and Development of Air Transport, for the period January - June 2021 amounting to 6.3 million euros.

Funds are also provided for the continuation of emergency measures to protect public health until the end of 2021, such as for the purchase of services by students / graduates for coordination of public health clinics, from mobile units for rapid antigen tests for Covid-19 and for Covid-19 PCR tests. These costs amount to 38 million euros.

The supplementary budget also includes increased expenditures of the Ministry of Tourism for the continuation of the summer vacation subsidy program and the domestic tourism support plan until the end of the year, quarantine and restraint hotels due to pandemic and obligations against Tour Operators. These costs amount to 11.5 million euros.

There is also an amount of 30 million euros for other needs that may arise because of the pandemic by the end of the year. The parliament approved an amendment requiring the Government to inform and to obtain the written consent of the Parliamentary Committee on Finance and Budget before any expenditure the above amount.