Economic Director: Lucy Herodotou Mouskou
The main areas of responsibility of the Directorate of Financial Management of Central Government are the following:
I. General Financial Management of the Ministry of Finance & other Ministries
The financial management issues handled by the Directorate fall into the following categories:
1. Requests of government bodies for approval and/or opinion of the Ministry of Finance with the aim of their further promotion.
a) Out-of-court settlements, with payment of compensation, for Lawsuits against the Republic.
b) Grant of compensation to convicts whose sentence was overturned on appeal, in accordance with the Overturning of Imprisonment Sentences (Compensation) Law of 2001.
c) Grant of compensation by the Public Works Department in cases of traffic accidents due to poor engineering on roads under the responsibility of the said Department.
d) Donations of computer and other equipment, goods and services from individuals to the Public Service, in accordance with Law Providing for the Accounting and Financial Management and the Financial Control of the Republic (Law 38(I)/2014).
e) Installation of external lines for Government telephone and fax devices in the Public Service, purchase/replacement of telephone devices of officials and government officials, approval for the usage of official mobile phones by Civil Servants in accordance with relevant Decisions of the Council of Ministers and circulars of the Ministry of Finance.
2. a) Representation of the Ministry of Finance in various Organizations, Companies and Committees and handling their related issues.For example: Cyprus Petroleum Reserves Management Organization, Medicinal Product Pricing Committee, National Betting Authority, Technical Committee for Determination and Review of Fees and Rights, Committee for Relief of Victims, Committee for Management of the Fund for Renewable Energy Sources, etc.
b) Administrative Support of Committees:Administrative support, coordination and communication of the Committee for the Exclusion of Economic Bodies from Public Procurement Procedures which was established as a Decision of the Council of Ministers. Supervision and guidance of the Secretary of the Committee.
3. Examination of issues and preparation of memos to the Minister of Finance for information and decision making by competent Ministerial Committees.
a) Examination of objections against intended expropriations and preparation of memos to inform the Minister and decision making by the competent Ministerial Committee in accordance with the Compulsory Expropriation Laws.
b) Examination of hierarchical appeals against the Turkish-Cypriot Assets Management Guardian and preparation of memos to inform the Minister and decision making by the competent Ministerial Committee.
4. Issues deriving from the Regulations of Government Warehouses.
a) Concession of State Property to private individuals (natural persons and organizations), in accordance with Regulation 91 of Government Warehouses.
b) Deletion of unusable goods due to physical wear and tear from the Assets Register of the Ministries/Services in accordance with the Warehouse Regulations.
II. Government Housing Policy / Rental of Government Buildings
a) General Government Housing Policy
b) Approval of the amount of rent depending on the rental period to:
- Government Department and Services that rent buildings / storage spaces / parking spaces from private individuals, and
- Embassies and Consular Residences of the Republic of Cyprus abroad.
III. Public procurement issues concerning the Ministry of Finance
a) Operation of the Tenders Council of the Ministry of Finance.
b) Provision of support/guidance to the other Directorates of Ministry of Finance in cases of tender announcements.
IV. Gaming Sector Policy issues
a) Handling of issues related to the Betting Law of 2019 [L.37(I)2019] and the Certain Games of Chance Law of 2018 [L.52(I)/2018].
b) Ministry representation in various relevant committees.
c) Drafting of legislation and proposals to the Council of Ministers.
d) Drafting of texts to the European Commission according to the framework of the relevant European Directive.
e) Preparation of memos and recommendations to the Minister of Finance for policy making or decision-making, with the aim of modernizing the sector in relation to the public interest and the protection of citizens.
V. Other specialized topics
a) Evaluation of requests and approval by the Minister of Finance for recognition of charity foundations.
b) Volunteering issues.
c) Security of classified information issues.
Mrs Christiana Frangidou
Tel.: +357 22601192
Fax: +357 22602750