The bill "The Supplementary Budget of the Cyprus Sports Organisation Law (No.1) of 2022" was unanimously approved by the Parliament.
The purpose of the law is to authorise the payment from the account of the CTO of supplementary appropriations amounting to €5,868,400, for making expenditures for purposes for which the provision included in the budget of the organisation for the year 2022 is insufficient.
In particular, according to the information submitted, the additional appropriations required relate mainly to the following: construction work on the new Limassol stadium (€4,000,000), grants to sports bodies to cover gifts to athletes (€420,000) and coaches (€115.000) who had remarkable performances at the Tokyo Olympics and world championships, implementation of external improvement works at the GSZ stadium (€600,000) and purchase of furniture and equipment for privately owned sports facilities, in particular for the needs of the Limassol Football Stadium (€500,000).
Source: CNA
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