Nicosia: The 2026 budget of the Cyprus Agricultural Payments Organization (CAPO) is slightly in deficit, as presented on Monday to the House Finance Committee. The budget was presented by the Commissioner for Agricultural Payments, Andreas Kyprianou.
According to Cyprus News Agency, CAPO's projected revenues for 2026 amount to pound 16,931,900, while expenditure is estimated at pound 16,991,470. This results in a deficit of pound 59,570, which will be covered by the organisation's cash reserves. By comparison, in 2025, revenues in the approved CAPO budget stood at pound 17,042,800, while under the revised budget they amounted to pound 16,356,600. Expenditure was pound 17,354,950 in the approved budget and pound 16,615,000 in the revised budget, with the final deficit for that year reaching pound 258,400.
Of the nearly pound 17 million in this year's budget, pound 16.6 million derives from the state grant. It is noted that the state grant shows an increase of pound 300,000 compared with 2025, due to a reduction in interest income received by CAPO. According to the explanatory report submitted by CAPO to the House Finance Committee, its Operating Fund covers staff costs, operating expenses, and capital expenditure. Of CAPO's total budgeted expenditure for 2026 (pound 16,991,470), pound 12,726,800 relates to staff costs, pound 3,249,470 to operating expenses, and pound 1,015,200 to capital expenditure.