Makis Keravnos

The ongoing debate over multiple pensions for former and current state officials has taken center stage in Cyprus, with the Cypriot government facing criticism from political parties and the country's Audit Office.

The Cypriot Ministry of Finance stated on Monday that there are currently no risks to the Cypriot economy from regional developments.

However, it emphasized its readiness to closely monitor the situation and take necessary actions and measures, following an extraordinary meeting convened by Minister Makis Keravnos in the morning.
 
 
 
 
 
 

Israel's authorities requested the acceleration of procedures for the implementation of the Great Sea Interconnector project (Greece-Cyprus-Israel), in the section of the Cyprus-Israel power linkup.

The director general of the Energy Ministry, representing the government of Israel, stated that this is an important priority of the Israeli government to advance the project.

Nicosia has unveiled a set of targeted and broad-ranging measures aimed at alleviating the financial strain on citizens, in response to concerns over price hikes.

The joint statement on the orientation of the eurozone's fiscal policy for 2025 satisfies Cyprus as it validates the cautious and conservative fiscal policy that Cyprus has followed so far, Minister of Finance Makis Keravnos said on Monday in Brussels, where he was attending the meeting of the Eurogroup.

Greek central banker Yannis Stournaras is to sign a memorandum of cooperation between the Bank of Greece and the Central Bank of Cyprus on Friday.

To this end, Stournaras will visit Cyprus at the invitation of the governor of the Central Bank of Cyprus (CBC), Constantinos Herodotou, accompanied by the deputy governor of the Bank of Greece, Christina Papakonstantinou.

Cypriot Finance Minister Makis Keravnos announced on Tuesday that the cabinet of the Republic of Cyprus has approved the establishment of a unified regulatory authority for companies offering administrative services.

Cyprus is considering participating in the ambitious Great Sea Interconnector project, formerly known as EuroAsia, according to statements from government officials. The proposal, jointly submitted by the ministers of energy, commerce and industry, George Papanastasiou, and finance, Makis Keravnos, signals Cyprus' readiness to join forces with Israel and Greece in the massive project.

The Cypriot Ministry of Finance is ready to meet all goals, and especially those set in the 2024 annual program, Minister Makis Keravnos stressed on Tuesday.

In an inadvertent error by the Cypriot state, support payments totaling 13.82 million euros were extended to 152 cases that had failed to meet subsidy criteria under the terms and conditions of the project to support businesses from the effects of the pandemic. While a significant portion of the reimbursement issue has been addressed, approximately €2-3 million remains outstanding.