Debts of Cyprus citizens exceed 200 million euro

Cypriots owe more than 223 million euro to the government, with half of this amount being social insurance payments. The Ministry of Justice is trying to find solutions to this problem, while the office of the general auditor is set to prepare a special report on the issue.

According to the Minister of Justice, at present two legislative acts are being prepared, which regulate the procedures the court must follow before imposing a penalty on debtors.

A new legislation will focus on alternative punishment methods, such as, for example a community service. Often such punishment methods as fines are not a solution, especially if debtor can not afford to pay it.