Finance Minister Makis Keravnos today presented the 2027 state budget to House of Representatives Speaker Annita Dimitriou, which he described as surplus-based and socially oriented. According to reports, the provisions of the new state budget and the accompanying fiscal risk report were compiled electronically on a USB drive to avoid printing the thousands of pages that would otherwise be required.
Upon receiving the new state budget, Ms. Dimitriou noted that the House of Representatives expects to see in the provisions “everything that citizens are also expecting, whether regarding projects or policies.”
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
“Mr. Minister of Finance, we have work to do.”
In presenting the new national budget, Mr. Keravnos emphasized that it is balanced and takes into account the many negative geopolitical developments, with the aim of shielding the Cypriot economy and society.
“It includes increased spending, is particularly people-centered, and the goal—as a key policy tool—is to continue running general government surpluses and to achieve an estimated growth rate of 2.9% despite adverse conditions, and the government’s goal is to ensure that any benefits arising from the government’s economic activity are passed on to society and citizens.”
Dimitriou and Keravnos agreed that the new state budget should support vulnerable segments of the population, fiscal discipline should be maintained, and the Cypriot economy should be shielded from external factors affecting it. They also committed to close cooperation “to keep the economy running.”
The meeting between Annita-Makis is taking place in the “shadow” of the harsh statement issued by the DISY leadership against the Minister of Finance regarding his positions on the Cyprusvia the GSI pipeline and by intervening in the ongoing dispute with DIKO President Nikolas Papadopoulos.
When asked about this, Ms. Dimitriou said that the issue was not on the meeting’s agenda and emphasized that such matters are not personal but strictly political, emphasizing the right of politicians and citizens to express differing views, “especially on such a serious issue as the GSI.”
“Our position is clear, and I understand the Minister’s as well. Now we’re waiting to see what the government will do to move the project forward at a much faster pace. We want to see whether or not things will move forward; that is the crux of the matter, and we want a clear answer at last.”
When asked about recent comments by the President of DIKO, who had countered his characterization by calling it “nonsense,” the Minister of Finance replied:
“Today is an important day—the presentation of the budget, the fourth prepared by this government, which generates surpluses and satisfactory growth rates, reduces public debt, and with the budget I have submitted to the President, it is estimated that it will fall to 45.6 percent—and this, Madam President, creates greater fiscal space for us to support our fellow citizens.”
When asked to comment on criticisms that the state budget does not include adequate measures to support citizens and does not resolve the issue of the high cost of heating oil for residents ofcold regions, the Minister of Finance noted that the government has already taken several support measures, thanking the Speaker of the House for her consistent support of these efforts.
“We are monitoring developments, and rest assured that the moment it is determined that we must intervene, we will continue to implement support measures and are prepared to take additional steps.”
