Cyprus Government Approves Surplus Budgets for Local Districts

The Cabinet of Ministers of the Republic of Cyprus has approved the budgets for district self-governing organizations (EOAs) covering the period from July 1, 2024, to December 31, 2024. Each district has reported a budget surplus.

The surpluses are as follows:

• Famagusta district: €4,052,110
• Larnaca district: €2,427,391
• Limassol district: €6,317,949
• Nicosia district: €12,289,056
• Paphos district: €4,667,224

Furthermore, the Cabinet has sanctioned the creation of several senior roles within the five self-governing organizations. These positions include:

• Director
• Director of Technical Services
• Financial Director
• Director of Development Licensing

These roles are crucial for ensuring the smooth and efficient operation of the newly established agencies.

Each EOA is tasked with preparing its inaugural budget for the second half of 2024 and submitting it to the Cabinet of Ministers for approval. Notably, the legislation stipulates that the budget for this period does not require parliamentary approval.