Cyprus’s 2027 budget doubles consultancy spending to 156.1 million euros with forecast 1.6 billion euro surplus
Cyprus’s 2027 state budget, submitted to parliament, projects consultancy service spending at 156.1 million euros, more than double the 69.2 million euros allocated for 2024. The overall budget forecasts a general government surplus of 1.596 billion euros, equivalent to 3.9% of GDP, marking the third consecutive annual surplus and an increase from 1.058 billion euros in 2026.
Key ministries such as Finance and the Deputy Ministry of Research, Innovation and Digital Policy are set to see significant rises in consultancy contracts to support specialized needs, including legal services, cybersecurity, and digital projects. Meanwhile, operating expenditure is expected to rise 15.8% to 1.862 billion euros, with the total budget forecasted at 14.407 billion euros.
Alongside fiscal discipline, officials emphasize using surpluses to aid vulnerable citizens amid external crises. However, audit findings highlight ongoing challenges in areas such as financial management, public procurement, water management, and infrastructure, signaling areas requiring further government attention.
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