Cyprus minister of finance to present the 2027 state budget

On Monday, October 12, 2026, at 09:15, the Cypriot Minister of Finance, Makis Keravnos, is set to present the 2027 state budget to the House Committee on Finance. The proposed budget is designed to navigate ongoing geopolitical instability by prioritizing fiscal stability and supporting households and businesses. This marks the third consecutive year of fiscal surpluses under the administration of President Nikos Christodoulides, with the surplus for 2027 projected to reach 4% of GDP.

Key macroeconomic indicators accompanying the bill include a projected 2.9% economic growth rate, unemployment estimated at 3.8%, and a decrease in public debt to 45.2% of GDP by the end of 2027. Total planned expenditures are set at 14.4 billion euros, an increase from 13.7 billion euros in 2026. Inflation is expected to be maintained at 2.5%.

Following the minister's presentation, the President of the Fiscal Council and the Governor of the Central Bank are scheduled to provide their assessments. Detailed reviews of individual ministry budgets will conclude on November 16. The process will culminate in December with a three-day parliamentary plenary debate and the final vote on the budget.