Elec­tion year bud­gets, BOC prof­its

Financial Mirror (Cyprus) - - FRONT PAGE -

The Cab­i­net has ap­proved the ‘elec­tion year’ bud­gets that see no VAT rise and CYP mln in sweet­en­ers, while the Bank of Cyprus an­nounced a 23% rise in prof­its, boosted by Greek oper­a­tions, ac­cord­ing to the Cyprus Fi­nan­cial Mir­ror is­sue 127, on Septem­ber 13, 1995.

The Coun­cil of Min­is­ters has ap­proved the three 1996 Bud­gets which see huge rise in deficits from CYP 221 mln to 342 mln, away from the 3% tar­gets set by the Maas­tricht Treaty, but also a prom­ise not to hike VAT and to­tal tax beaks

Bud­gets ap­proved:

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