Cyprus News Agency: News in English, 10-04-01

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] COUNCIL OF MINISTERS - PUBLIC SECTOR - CUTS

[01] COUNCIL OF MINISTERS - PUBLIC SECTOR - CUTS

The Cabinet convened Thursday morning on an extraordinary meeting under President of the Republic of Cyprus Demetris Christofias and discussed about the reduction of operational expenses in addition to the reduction foreseen in the state budget of 2010, on the basis of a plan, prepared by the Ministry of Finance.

Government Spokesman Stephanos Stephanou told reporters after the meeting that until the end of 2011, 150 million euro will be saved.

Today we decided further reductions of operational expenses of 150 million euro until 2011. For 2010 we decided to cut operational expenses by 60 million euro, and by 90 million euro in 2011. So, in total, 150 million euro in two years, he said.

The decision falls within the framework of the governments policy to reduce the cost of the public sector, he said.

Stephanou noted that all Ministries will do cutbacks and explained that reduction of costs does not include development projects.

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