Cyprus can become an EU net recipient for the 2014-2020 period

Cyprus can become a EU net recipient member-state (it will receive more from the EU budget than its contributions) provided it absorbs the funds allocated to the country for the period of 2014-2020, Cypriot European Court of Auditors member, Lazaros Lazarou told the Parliament on Tuesday.

Presenting the ECAs annual report for 2015 to a joint session of the parliamentary committees of Finance, Foreign and European Affairs and Expenditure control, Lazarou said that in 2015 Cyprus contributed to EU coffers Euros 230.2 million which corresponds to 0.

Source: Cyprus News Agency.