Parliamentary scrutiny of Cyprus’ 2027 state budget will begin on 12 October and run until 16 November 2026, with 11 meetings scheduled to examine the budgets of ministries, deputy ministries and independent state institutions.
House Finance Committee President Christiana Erotokritou has sent the timetable for the hearings to all MPs.
The process will begin on Monday, 12 October, with Finance Minister Makis Keravnos, who will present an analysis of state revenue, fiscal indicators, economic policy and the country’s overall fiscal position.
Finance Ministry opens hearings
Following Keravnos’ presentation, MPs will examine the budgets of the Finance Ministry, Treasury, Directorate-General for Growth, Public Debt Management Office, Fiscal Council and Central Bank of Cyprus.
On 16 October, the committee will examine the budgets of the Transport Ministry, Office of the Commissioner for State Aid Control and Internal Audit Service.
The 19 October meeting will cover the Energy, Commerce and Industry Ministry, Tenders Review Authority, Office of the Commissioner for the Protection of Children’s Rights and Office of the Commissioner for Personal Data Protection.
Foreign Affairs and Justice follow
On 23 October, attention will turn to the Foreign Affairs Ministry, Deputy Ministry of Tourism and Cooperative Societies Service.
The 26 October hearing will cover the budgets of the Justice and Public Order Ministry, Judicial Service, Legal Service and Independent Authority Against Corruption.
On 30 October, MPs will examine the Education, Sport and Youth Ministry, Deputy Ministry of Culture and Audit Office.
Agriculture, Health and Interior scheduled for November
The committee’s first November meeting, on 2 November, will examine the Agriculture, Rural Development and Environment Ministry, Deputy Ministry of Shipping and Office of the Commissioner for Legislation.
On 6 November, the committee will consider the budgets of the Health Ministry and Deputy Ministry of Research, Innovation and Digital Policy.
The Interior Ministry and Deputy Ministry of Migration and International Protection will appear before the committee on 9 November.
The penultimate session, on 13 November, will cover the Defence Ministry, Commission for the Protection of Competition and House of Representatives.
Hearings conclude on 16 November
The committee will conclude its scheduled hearings on 16 November with scrutiny of the Labour and Social Insurance Ministry, Deputy Ministry of Social Welfare and Office of the Commissioner for Administration and the Protection of Human Rights.
The full timetable therefore runs as follows:
- 12 October: Finance and related institutions
- 16 October: Transport and oversight bodies
- 19 October: Energy, Commerce and Industry and independent offices
- 23 October: Foreign Affairs and Tourism
- 26 October: Justice, judiciary and Legal Service
- 30 October: Education, Culture and Audit Office
- 2 November: Agriculture, Shipping and Legislation
- 6 November: Health and Digital Policy
- 9 November: Interior and Migration
- 13 November: Defence, Competition Commission and Parliament
- 16 November: Labour, Social Welfare and Ombudsman
MPs can submit written questions
Erotokritou said that, in line with established practice, all MPs, whether or not they are members of the House Finance Committee, may submit written questions on specific aspects of the budget.
The questions will then be forwarded to the relevant ministries for written responses.
MPs wishing to submit questions have been asked to do so as soon as possible and no later than 19 November, allowing sufficient time for responses to be provided within the predetermined timetable.
Budget forecasts 2.9% growth
The 2027 state budget bill was submitted to the House of Representatives on Thursday by Keravnos, who formally presented it to House President Annita Demetriou.
Under the baseline macroeconomic scenario, economic growth is forecast at around 2.9% in 2027, rising to 3% in both 2028 and 2029.
Inflation, measured by the Consumer Price Index, is projected to decline from 4.5% in 2026 to 2.5% in 2027.
It is then forecast to fall further and remain at 2% in both 2028 and 2029.
The unemployment rate is expected to remain at approximately 4.5% of the labour force between 2027 and 2029, a level corresponding to full employment.
Surplus forecast at 2.8% of GDP
On the public finances, the government forecasts a budget surplus of 2.8% of GDP in 2027, up from 2.3% in 2026.
Public debt is expected to fall to 46.6% of GDP, from 49.9% in 2026.
The primary surplus is forecast to rise to 4%, compared with 3.6% this year.
