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Cyprus’ 2021 national budget was rejected by Parliament

Cyprus' 2021 national budget was rejected by Parliament

December 18th, local time, Cypriot media reported that on the evening of December 17, the 2021 national budget of Cyprus was rejected by the parliament by 29 votes to 24 votes.

This is the first time that Cyprus’ annual national budget has been rejected since it declared independence in 1960. The country has now launched a national emergency fund use system until the government resubmits the 2021 budget next month for a re-voting.

According to sources, the main reason for the rejection of the country’s 2021 national budget is that some political parties asked the government to allow it to investigate illegal matters related to “foreigners’ investment of 2.5 million euros in exchange for Cypriot passports”, but the government refused because it would be unconstitutional because the Attorney General has An independent body has been established to investigate possible corruption in the incident.

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