Cyprus on track to achieve full absorption of EU funds, Cypriot ECU member says

Cyprus in on track to achieve full absorption of the EU funds earmarked for Cyprus in the programme period of 2014-2020, Lazaros Lazarou member of the EU Court of Auditors, adding that until September 2018 Cyprus registered a rate of absorption amounting to 25%, higher that the EU average of 21%.

Lazarou presented the ECA’s annual report to the House of Representatives President Demetris Syllouris and discussed the report in a joint meeting of the parliamentary committees of Finance and Foreign and European Relations.

In statements to the press, Lazarou said in 2017 Cyprus was one of the top EU member-states in the submission of applications from the European Regional Development Fund and sixth in all EU Funds.

He also noted that the aim is absorb all funds earmarked for Cyprus until the end of the programme period.

The course so far shows that Cyprus, if it continues at this pace, is on track to fully absorb the funds from the programme period of 2014 � 2020, Lazarou said.

Under the programme period of 2014 � 2020, Cyprus will receive a total of Euros 1.34 billion, from which Euros 824 million will be provided by the Cohesion policy, Euros 483 million from agricultural development programme and Euros 40 million from Maritime and Fisheries Fund.

Speaking to the joint parliamentary meeting, Lazarou said the in 2016 and 2017 Cyprus was a net recipient of EU funds, as its contribution to the EU budget in 2016 amounted to Euros 173 million while it received Euros 185 million, whereas in 2017 Cyprus paid Euros 159 million to the EU budget and received Euros 207 million.

Source: Cyprus News Agency

Cyprus on track to achieve full absorption of EU funds, Cypriot ECU member says

Cyprus in on track to achieve full absorption of the EU funds earmarked for Cyprus in the programme period of 2014-2020, Lazaros Lazarou member of the EU Court of Auditors, adding that until September 2018 Cyprus registered a rate of absorption amounting to 25%, higher that the EU average of 21%.

Lazarou presented the ECA’s annual report to the House of Representatives President Demetris Syllouris and discussed the report in a joint meeting of the parliamentary committees of Finance and Foreign and European Relations.

In statements to the press, Lazarou said in 2017 Cyprus was one of the top EU member-states in the submission of applications from the European Regional Development Fund and sixth in all EU Funds.

He also noted that the aim is absorb all funds earmarked for Cyprus until the end of the programme period.

The course so far shows that Cyprus, if it continues at this pace, is on track to fully absorb the funds from the programme period of 2014 � 2020, Lazarou said.

Under the programme period of 2014 � 2020, Cyprus will receive a total of Euros 1.34 billion, from which Euros 824 million will be provided by the Cohesion policy, Euros 483 million from agricultural development programme and Euros 40 million from Maritime and Fisheries Fund.

Speaking to the joint parliamentary meeting, Lazarou said the in 2016 and 2017 Cyprus was a net recipient of EU funds, as its contribution to the EU budget in 2016 amounted to Euros 173 million while it received Euros 185 million, whereas in 2017 Cyprus paid Euros 159 million to the EU budget and received Euros 207 million.

Source: Cyprus News Agency