Cyprus has received a total of €126 million in net cash from the EU for 2023 and plans to receive much more by 2027, Cypriot member of the European Court of Auditors (ECA) Lefteris Christoforou said on Thursday.
Presenting the ECA's annual report for the 2023 financial year to the Foreign Affairs, Finance and Audit Committees of the House of Representatives, Christoforou revealed that Cyprus had made full use of available EU funds, from which it had received a total of €750 million, representing 100 percent of its entitlement help. He added that under the new fiscal system, Cyprus has absorbed 35 percent more funds than the EU average.
Christopher praised the interest and commitment of the government, parliament and civil servants to use funds for the benefit of society and financial growth.
He added that Cyprus is now eligible to receive about €3.2 billion, of which €650 million has already been received and €2.55 billion is still available over the next five years.
According to Christoforou, these products have become “a strong tonic for our country, the Cypriot economy and the citizens of Cyprus.”
“Our mission is to ensure that funds are fully utilized. Every euro of European taxpayers must be used in the best possible way and in the right direction: for the benefit of citizens and for investment in growth,” said the ESP representative.
Christoforou added that “the well-being of European citizens is impossible without the full, effective and productive use of EU funds.”
Source: cyprus-mail.com
