The Republic of Cyprus is committed to the implementation of the Great Sea Interconnector project, President of the Republic, Nikos Christodoulides, said on Tuesday, adding that there is a provision of 25 million euros in the budgets of both 2025 and 2026.
Furthermore, he noted that the longer the implementation of the project is delayed, it touches on other aspects, including financial ones.
In statements to the media before attending the meeting of the European Investment Bank in Limassol, President Christodoulides referring to the GSI recalled that he had met with the Greek Prime Minister earlier this month in New York and that “we have issued a joint press release. The longer the implementation is delayed, this is not positive. It is something that burdens and touches on other aspects, including financial ones”.
“The Republic of Cyprus is committed to the implementation of this specific project and for this reason, in the state budget of 2025 and 2026 there is a provision of 25 million” euros, he stressed.
Replying to another question, the President said that “it is important that certain things are implemented, when they are delayed this affects the viability of the project, they also affect other issues”.
Replying to a journalist’s remark that the Minister of Finance has stated that if Cyprus returns the 67 million euro EU funding for the natural gas terminal in Vasilikos then the Cypriot economy will be at risk, President Christodoulides referred to the state of the Cypriot economy, expressing satisfaction with the fact that next year’s state budget has a surplus and is a development budget once again with increased spending on development projects, but also on social benefits, more than in 2025.
He continued by saying that public debt has decreased, unemployment is at 2008 levels, and the Cypriot economy is being upgraded, something that had not been achieved since 2011.
Concluding, he said that he will refer to all the above economic figures during the meeting he will have with the executives of the European Investment Bank.