Cyprus: Absorption of European funds is at a very good level

Cyprus: Absorption of European funds is at a very good level

The President of the Republic of Cyprus, Nikos Anastasiades, received today at the Presidential Palace the Annual Report of the Member of the Court of Auditors, Mr. Lazaros Lazarou.

Receiving the report, the President of the Republic thanked and congratulated Mr. Lazarou on the work he is doing.

For his part, Mr Lazarou said, among other things, that “Cyprus is doing very well in absorbing European funds”, adding that, for example, the Regional Development Fund is the first in absorbing funds at a rate of 50% compared to the 29%, which is the average.

With these figures “we will certainly have complete absorption at the end of the fiscal framework”, Mr Lazarou said./ibna