Cypriot government

Cyprus has reported a substantial budget surplus of 424.5 million euros for the first half of 2024, a huge increase from the €62 million surplus during the same period last year. This improvement is mainly thanks to a significant rise in government revenue, according to the Statistical Service of Cyprus (CyStat).

The first investments by the Cyprus Equity Fund, set up by the Cypriot government in cooperation with the European Investment Fund (a subsidiary of the European Investment Bank) and with a total budget of 37.5 million euros, are expected to begin this fall, so as to cover the financial gap in the fields of entrepreneurship and innovation.

Developments surrounding the construction of the 1.9 billion Crete-Cyprus-Israel power cable are dramatic, and even at the top government level, after the Cypriots refused to approve the project’s payment framework, which takes the Great Sea Interconnector project’s course in a new direction.

The Cypriot government has launched a new website, www.diakivernisi.gov.cy, where citizens can stay informed about the implementation of the government's initiatives. It was presented a few days ago by Deputy Minister to the President Irene Piki.

The EU's representative for foreign affairs, Josep Borrell, had a phone call on Friday with the Cypriot foreign minister, Constantinos Kombos, regarding Hezbollah's recent threats against Cyprus. 

During the call, Borell expressed his solidarity with Cyprus and called for de-escalation in the Middle East. 

It was a rather overdue development, since the Republic of Cyprus has pursued a mature foreign policy and made some smart moves that have elevated its role.

Smoke billows during Israeli bombardment on the village of Khiam in south Lebanon near the border with Israel on June 8, 2024 amid ongoing cross-border tensions as fighting continues between Israel and Hamas in the Gaza Strip.

The Great Sea Interconnector, a 1.9 billion-euro subsea cable linking the electricity grids of Cyprus and Greece, promises significant savings for Cypriot households.

The General Accounting Office of the Republic of Cyprus announced that a significant sum of 564.2 million euros was cleared by the government from November 2013 to April 2024. This extensive effort aims to address outstanding debts owed to various government departments and agencies.

Humanitarian aid for Gaza is continuing to leave Cyprus by sea and will be held in floating storage off the coast of the enclave until a US-built military pier undergoes repairs, a Cypriot government official has said.