Fiscal Risks Arising from the Vasilikos Terminal Situation
September 17, 2024
While the Cypriot economy shows positive growth, the 'hole' in the Vasilikos terminal is raising serious fiscal concerns. The state may need to pay between €500 to €600 million to cover the damages. Although there is a surplus available to address these expenses, it could affect other social expenditures. The Ministry of Finance is monitoring the situation and considering various scenarios.