The Republic of Cyprus is committed to the implementation of the GSI electrical interconnection project, which is why there is a relevant provision of 25 million euros in the budget for both 2025 and 2026, said the President of the Republic, Nikos Christodoulides, on Tuesday.
He stressed that the longer the implementation of the project is delayed, this is not positive and burdens and affects other aspects, including financial ones.
In statements to the media while attending the European Investment Bank meeting in Limassol, President Christodoulides said regarding GSI that "to wrap up this issue, I met with the Greek Prime Minister, we have a joint press release. As long as implementation is delayed, it is not a positive thing. It is something that burdens and touches other aspects, including financial ones."
"The Republic of Cyprus is committed to the implementation of this specific project, for this reason, in the budget for both 2025 and 2026 there is a relevant provision of 25 million," he stressed.
Asked if this will be done without conditions, the President of the Republic said that "conditions are that certain data be implemented. It is important that certain things be implemented, which as they are delayed affect the viability of the project, and affect other data as well."
In response to a journalist's remark that the Minister of Finance stated that if Cyprus returns the 67 million euros for the terminal in Vasilikos that were given as EU funding, then the Cypriot economy is at risk, the President of the Republic said that he is happy because we once again have a surplus, development budget, with increased spending on both development projects and social benefits, increased from what has been the case since 2025.
"I am happy about the reduction in public debt, I will mention all of this now in the meeting I will have with the executives of the European Investment Bank. I am happy that unemployment is at 2008 levels. I am happy about the improvements we have been able to achieve since 2011," he noted.
Source: KYPE
