€351.3m supplementary budget for meds, defence and water

The first supplementary budget for 2024, worth €351.3 million, has been approved by the cabinet to cover medical supplies, social insurance, desalination, defence and education.

Speaking after a cabinet meeting, Finance Minister Makis Keravnos said the main expenditure was €103m for the purchase of medicine, €60m for increased state contributions and €58m for desalinated water to cover the shortage in water supply and irrigation caused by drought.

Another €31.5m was going to defence, €23m to the University of Cyprus and Tepak, €13.5m to counteract higher prices, €11.1m to hire temporary teachers for September and €1.1m to employ assistant aides for children with special needs.

The supplementary budget includes €10m for reopening the Mia Milia sewerage station, an amount which Keranvos said should have been covered by the north.

A further €2.2m are earmarked for measures to support agricultural products and €8m for Amalthea, which the government will be getting back from the EU.

There are already contributions from some states in the fund for the Amalthea initiative – a corridor for aid to reach Gaza – which is being handled by the foreign ministry.

Keravnos said that on the whole the economy was doing well, unemployment was dropping and employment was on the rise.