Cyprus state aid commissioner presents 2027 budget

During a meeting of the Parliamentary Committee on Finance on Friday, the Commissioner for State Aid Control, Stella Michaelidou, presented the proposed budget for her office for 2027. Despite an increasing workload and a growing list of administrative responsibilities, the office faces a budget reduction in the upcoming fiscal year.

The proposed budget for 2027 is set at €628,470, which represents a decrease of €72,705, or approximately 10.4%, compared to the €701,175 allocated in 2026. Michaelidou noted that the reduction in personnel expenditures does not correlate with the actual operational needs of the department. She emphasized that the control of state aid is not merely a regulatory obligation toward the European Union but serves as a vital tool for economic development.

According to the Commissioner, when properly utilized, state aid regulations support key areas such as entrepreneurship, innovation, research, energy, and the digital and green transition. The office continues to focus on improving efficiency to manage its expanded mandate despite the tighter financial constraints imposed for the coming year.