President Christodoulides addresses development project funding for Limassol

President Nikos Christodoulides addressed concerns regarding the absence of major development projects from the 2027 state budget during an event in Limassol on October 20, 2026. Attending the 40th-anniversary gala of the Agios Athanasios Industrialists Association, the President assured local authorities that the state possesses the necessary financial resources to fund key infrastructure projects, provided that local municipalities and regional organizations submit "mature" proposals.

The President emphasized that Cyprus has maintained one of the highest economic growth rates in Europe over the past three years, triple the European average, which has strengthened the state's capacity to invest. Specific initiatives highlighted to address traffic congestion in Limassol include the construction of the northern bypass and the upcoming tender for the second phase of the Saittas-Troodos road network. Government planning for the next programmatic period includes investments exceeding €3.5 billion.

While local mayors and the Limassol Chamber of Commerce and Industry have expressed dissatisfaction with the current budget, the President maintained that fiscal responsibility remains paramount. He urged local stakeholders to accelerate the preparation of projects to ensure they can be effectively implemented in the coming cycles.