Akel submits accounts for 2016

Main opposition Akel said on Monday that it has submitted to authorities, as required by law since December 2012, its consolidated financial statements for 2016.

Their audited accounts were submitted to the Registrar of Political Parties on June 22 of this year.

According to a statement, for the year ended December 31, 2016, the party’s total assets were worth €10,323,546. This included €2,754,303 in cash (bank deposits).

The value of equipment, immovable property and other investments came to €5,168,252.

Akel’s liabilities to creditors and banks amounted to €4,250,991.

The party’s net assets were calculated at €6,072,555.

The party said the assets disclosed include contributions/donations made by “comrades, party members.”

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