budget outturn | budget performance

budget execution

budget outturn | outturn

budget outturn account | budgetary outturn account

budget outturn account

In addition, amendments of the National Budget Law to implement Council Directive 2011/85/EU on requirements for budgetary frameworks of the Member States targeting a balanced or surplus position over the cycle came into full force for the 2014 budget planning and execution process.

(Return tabled) Question No. 52 Ms. Kirsty Duncan: With regard to Enbridge’s Line 9 reversal project (Line 9 Phase l Reversal Project and Line 9B Reversal and Capacity Expansion Project): (a) what are the results of all government reports, details of briefing notes, or meeting summaries that were produced between January 1, 2011, to June 1, 2013; (b) what studies, analyses or assessments did the government undertake to determine the safety of the project, (i) what are the dates of all studies, analyses, and assessments, (ii) what are the results of each; (c) what are the details of the studies, reports, briefing notes, or meeting summa ...[+++]ries that the government has produced regarding the economic and environmental impacts and, what are (i) the results associated with each, (ii) the costs associated with each; (d) what studies, reports, briefing notes, or meeting summaries has the government undertaken regarding greenhouse gas emissions if the Line 9 pipeline was reversed and filled with diluted bitumen, (i) what were the results of these studies, (ii) how are emissions expected to impact Canada’s ability to achieve its climate commitments; (e) what are the dates of any correspondence between the government or the Minister of Natural Resources or the Minister of Foreign Affairs and the Portland Montreal Pipeline Company, and what are the key points for each correspondence; (f) what are the dates of any correspondence between the Minister of Natural Resources and the National Energy Board regarding the hearing process and applications for participation and intervener status; (g) did the Minister of Natural Resources have a role to play in the National Energy Board changing its approach to public participation in hearings, particularly those concerning the proposal to reverse and expand Line 9 and, if so, what was that role; and (h) what effect have the changes adopted in the government’s 2012 budget bills had on the Line 9 review process to date?

As a consequence of that review, changes should be made in the areas of financial sector reform, fiscal policy and structural reforms, reflecting the steps taken by the Cypriot authorities by the first quarter of 2015, in particular with regard to: (i) continuing to closely monitor the liquidity situation of the banking sector; (ii) streamlining the regulation and supervision of insurance companies and pension funds; (iii) further measures to strengthen the banks' management of non-performing loans and ensure long-term sustainable restructuring solutions, including targets for the work-out of non-performing loans and a strategic default study; (iv) the submission of a legal proposal enabling the sale of loans; (v) the presentation of a ...[+++]legal proposal ensuring the transfer of issued title deeds without delay while safeguarding against abuse; (vi) the monitoring on a continuous basis of the implementation and performance of the insolvency and foreclosure frameworks, ensuring that they support their objectives and principles; (vii) to reflect the fiscal performance in the first quarter of 2015, a revision of the 2015 primary balance target to a surplus of at least EUR 264 000 000 (1,5 % of GDP) and further adjustments to the primary surplus target for 2016-2018, also to remain in line with the adjustment path prescribed by the Stability and Growth Pact; (viii) the full implementation of a National Health System (NHS) by 2017; (ix) the operationalisation of the new integrated tax agency by setting up a single registration process and approving a new tax procedure code; (x) the adoption of a plan for the public administration reform leading to the improvement of the wage-setting mechanism, the introduction of a new staff-appraisal and promotion system and an increase in staff mobility; (xi) the consolidation of disability and student benefits; (xii) the inclusion in housing-market regulations of further requirements to accelerate the issuance of title deeds; ...

As a result, changes should be made in the areas of financial sector reform, fiscal policy and structural reforms, in particular with regard to: (i) providing an updated plan for the gradual relaxation of external restrictions, which the authorities commit to starting only after the successful completion of the comprehensive assessment and a smooth transition to the Single Supervisory Mechanism (SSM); (ii) further measures to strengthen the banks' management of non-performing loans; (iii) a requirement to conclude the follow-up on the 2013 audit regarding individual financial institutions, impose sanctions if applicable, and make the final decision public; ...[+++] (iv) the provision of further measures to improve the Cooperative Group's operational capacity; (v) the adoption by the Council of Ministers of the new comprehensive framework establishing appropriate corporate and personal insolvency procedures, as well as the adoption by the House of Representatives of the amendments to the legal framework in relation to foreclosures of mortgaged properties (those are two prior actions), with details on the required elements of those two new frameworks; (vi) a revision of the 2014 primary fiscal deficit target of no more than EUR 210 million (1,3 % of GDP) to reflect the fiscal performance in the first half of 2014, the submission of a proposal ensuring the fiscal neutrality of the welfare system reform and the achievement of the 2015 fiscal deficit target, while the primary surplus target for 2017 was revised down to 2,5 % of the GDP in order to smooth the fiscal adjustment over 2017-2018; (vii) the setting of further steps to operationalise the privatisation process in the Cyprus Ports Authority and the Electricity Authority of Cyprus; (viii) the appointment of the new Commissioners and the two Assistant Commissioners of the new tax department, the establishment of a common taxpayer database, and the adoption of necessary regulations to make the enhanced collection powe ...