Cyprus government to announce €3.5 billion worth of projects in 2027

The Cyprus government will announce new projects worth €3.5 billion across the country in 2027, President Nikos Christodoulides said. He was speaking at the opening of the renovated cultural centre in the community of Dymes in Limassol district.

“During 2027, the Council of Ministers will make a decision and announce works worth €3.5 billion across Cyprus,” the president said. He urged communities to complete their projects in advance so that they can receive government approval as early as 2027.

The amount consists of two parts. Cyprus expects to receive around €2.5 billion from the EU’s multiannual financial framework for 2028–2034, while a further €1 billion will come from the national budget. Christodoulides discussed the parameters of the European budget with European Council President António Costa.

The president also highlighted two energy priorities. The first is to complete the natural gas infrastructure in Vasiliko: according to Christodoulides, proposals have already been submitted and the process is moving forward. The second is to develop Cyprus’s exclusive economic zone (EEZ). “We are negotiating with energy giants over the allocation of new blocks,” he said. The goal is to create an alternative energy corridor to Europe through the Eastern Mediterranean together with Egypt, Israel and regional partners.

The president also touched on Schengen. He described the European Commission’s report on Cyprus’s full accession to the zone as very positive: it recommends that Cyprus’s application be considered as a priority. The government is seeking a political decision at the level of the EU Council of Home Affairs and Justice Ministers “as soon as possible”.