Cyprus Approves 2027 State Budget of 11.16 Billion Euros
Cyprus's ministerial council approved the 2027 state budget of 11.16 billion euros (excluding debt service payments) as well as the medium-term financial framework 2027-2029. Finance Minister Makis Keravnos described the new budget as balanced and development-oriented with emphasis on social cohesion and social policy. The government forecasts economic growth of 2.9 percent and a reduction in public debt to 46.6 percent.