The House of Representatives has approved the state budget for 2026. The budget is worth €10.7 billion. It will start on January 1st next year. The vote was 37 in favour and 19 against. Some politicians warned about the rising cost of living. They said it affects families in Cyprus.
The government says the budget will help with digital changes. It will also support social welfare. This will protect the country from economic problems. However, some groups believe the budget ignores people's lower buying power. They think it focuses too much on saving money.
Finance Minister Makis Keravnos supported the budget. He called it a "balanced and developmental" plan. He said it aims for "long-term sustainability." But opposition parties were not convinced. They worry about the financial problems of ordinary families. Their real incomes are going down.
Besides the main budget, money was also approved for the Ministry of Education. Discussions about education looked at how to fit more students. They also discussed keeping good education standards. Some MPs felt the current education plan was not strong enough. They wanted better buildings and new topics in the lessons.
The Audit Office budget also caused debate. A politician said a new rule from the Finance Ministry "caused damage to public finance." This could mean the state lost money.
The 2026 budget is an important step for Cyprus. It shows different ideas about money matters. More spending on social help and development is planned. This is meant to help the economy and people. However, worries about the cost of living continue. The government must help people's daily finances.