The Cyprus Parliament has approved the 2025 state budget with 37 votes in favor and 18 against. Supporting votes came from DISY, DIKO, ELAM, EDEK, DIPA, and independent MP Andreas Themistocleous. Those opposing included AKEL, the Green Party–Citizens’ Cooperation, independent MP Alexandra Attalidou, and socialist MP Kostis Efstathiou.

The budget includes over 38 approved amendments from a total of 86 submitted. Many of these amendments aim to improve transparency and ensure parliamentary oversight on government spending for large-scale projects.

Budgeted Expenditures: €9.4 billion (3.25% increase from 2024).

Projected Revenue: €11.75 billion (4.1% increase).

Overall Expenditures Including Permanent Fund Costs: €12.93 billion, with €3.53 billion allocated to fixed state expenses, exempt from legislative approval.

Tax revenue is expected to rise, with direct taxes increasing by 4.9% (€3.92 billion) and indirect taxes by 5.6% (€4.56 billion). Non-tax revenue will see the highest growth at 10.3%, totaling €1.83 billion.

Many amendments mandate written parliamentary approval before funds are spent on various projects. Examples include:

Government Properties: Spending on consultancy and legal services for the utilization of state exhibitions now requires prior approval from the Parliamentary Finance Committee.

Infrastructure Improvements: Road upgrades in Nicosia, including primary arteries like Aglantzia Avenue and Strovolos, as well as the renovation of embassies abroad, must be pre-approved.

Social and Housing Projects: Subsidies for programs such as housing plans for mountainous and rural areas, or urban regeneration projects within Nicosia’s walled city, also require oversight.

The budget allocates significant funds for:

Support for Vulnerable Groups: Including young couples and residents of remote areas, with plans like the “Renovate-to-Rent” initiative.

Environmental Projects: Regular updates on major residential and ecological projects will be provided to the Parliamentary Finance Committee.

The budget introduces semi-annual updates on:

Health and Social Spending: Grants to volunteer organizations and NGOs working on social welfare.

Key Projects: Reporting for humanitarian issues, national solidarity funds, and emergency grants.

Migration Management: Specific funds aimed at addressing EU migration challenges.