Cyprus Approves 2025 State Budget After Heated Three-Day Debates

The Parliament of the Republic of Cyprus has passed the 2025 State Budget following three days of intense and spirited discussions. A total of 37 Members of Parliament voted in favor, while 18 opposed the motion.

The newly approved budget includes higher expenditures and notable adjustments to revenue forecasts. Total government spending is projected at €9.4 billion, marking a 3.25% increase compared to the 2024 budget. Revenue projections are expected to reach €11.75 billion, a 4.1% rise from the current year.

Overall, total expenditures amount to €12.93 billion, which includes €3.53 billion allocated to a permanent fund that covers fixed government expenses and does not require legislative approval.

During the debates, lawmakers reviewed 86 proposed amendments, 38 of which were approved. Most of these amendments involve requiring written approval from the Parliamentary Finance Committee before funds can be allocated to specific projects.

The budget faced opposition from the AKEL party, the Green Party, and two independent MPs. Members of the far-right party ELAM also voted against the budget, citing their objection to any funding allocated to migration-related expenses.

Despite these objections, Finance Minister Makis Keravnos expressed gratitude to the parties that supported the budget, praising their responsible approach.

“Our budget is balanced, growth-oriented, and designed to address the needs of society,” the minister stated. “With this tool, we will continue on our current path of sustainable growth that benefits everyone.”