Brussels: Cyprus’ Finance Minister Makis Keravnos is set to travel to Brussels to participate in the Eurogroup and ECOFIN meetings on January 20 and 21. A significant item on the ECOFIN agenda includes the approval of Cyprus’ amended Recovery and Resilience Plan, alongside Council recommendations on the medium-term fiscal and structural plans from 21 member states, including Cyprus.
According to a press release from the Ministry of Finance, Minister Keravnos will join the Eurogroup session where the European Commission will present its economic priorities for the Eurozone as part of the new legislative cycle. Discussions will revolve around the Commission’s December recommendations for Eurozone economic policy, aligning with the 2025 European Semester for policy coordination. Updates on the Digital Euro from the European Central Bank and the European Commission will also be provided.
The ECOFIN meeting will start with a working breakfast featuring the Ukrainian Finance Minister to address the economic impact of Russia’s invasion of Ukraine. The subsequent discussions will concentrate on simplifying and reducing administrative burdens to enhance European economic competitiveness.
Additionally, ECOFIN will evaluate the implementation of the Recovery and Resilience Mechanism, approving amended Recovery Plans for Cyprus, Greece, and Spain. The Council recommendations concerning Medium-Term Fiscal and Structural Plans from 21 member states, including Cyprus, will be approved, along with recommendations to end the excessive deficit procedure for seven member states.
An informal working dinner organized by the Polish Presidency will allow ministers to discuss strategies for managing rising energy prices. On the sidelines, Minister Keravnos will engage in courtesy meetings with new EU Commissioners Maria Lus Albuquerque and Piotr Serafin to discuss their portfolios and coordinate ahead of Cyprus’s EU Council Presidency in January 2026.