💰 ALMA and Direct Democracy Cyprus to Receive Initial €300,000 State Funding Post-Election
Following their electoral success in the May 24 elections, ALMA and Direct Democracy Cyprus are set to receive an advance of €300,000 each from the state under the amended Political Parties Law. This advance aims to provide the new parties with immediate financial support and corresponds to seven-twelfths of their anticipated annual state grants, estimated at around €500,000. The advance will be offset against future state funding across five annual instalments.
The adjustment to the law was made to offer newly elected parties financial stability from June to December, avoiding the operational challenges faced by parties in previous years. This change follows the unlawful payment of €2.6 million in 2021, which was never reclaimed or redistributed. The House Audit Office is currently processing the amounts, with both parties required to submit formal requests for this funding.
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