Cyprus Parliament Begins Three-Day Debate on 2025 Budget

The Parliament of the Republic of Cyprus has started a three-day debate on the state budget for 2025. The discussions, which began on Monday, will conclude with a plenary vote on Wednesday.

Before delving into the budget discussions, attention will first be given to the issue of defective Takata airbags, a topic carried over from the previous plenary session.

During the budget debates, party leaders and MPs will not only analyze the specifics of the budget but also explore the broader economic, political, social, and international factors that shaped its creation.

The proposed 2025 state budget forecasts increased expenditures and notable shifts in revenue. Total spending is projected to rise to €9.4 billion, marking a 3.25% increase compared to the 2024 budget. Meanwhile, total revenue is expected to reach €11.75 billion, reflecting a 4.1% rise from the current year.

The overall state budget for 2025 amounts to €12.93 billion. This includes €3.53 billion allocated to a permanent fund, which does not require legislative approval as it covers fixed government expenses.

Finance Minister Makis Keravnos has submitted 34 amendments to the budget, including credit reallocations and adjustments to personnel allocations. These changes are designed to ensure the uninterrupted operation of the state apparatus. The proposed amendments will add an estimated €25.9 million to the 2025 expenditures.