The General Accounting Office of the Republic of Cyprus has published a list of state payments exceeding €1 million each, made during 2024 by Ministries, Deputy Ministries, government Departments, Services, and Special Funds to individuals or legal entities.
The largest single payment recorded for the year was €827.5 million to the Health Insurance Organisation. This amount is the state’s contribution to the General Healthcare System (GHS), comprising both government subsidies and employer contributions.
The second-largest payment, amounting to €256.4 million, was made to the European Commission as Cyprus’s contribution from own national resources. This was followed by a state subsidy of €151.1 million to the University of Cyprus. Another major payment involved €137.5 million to the Electricity Authority of Cyprus, covering electricity consumption and subsidies provided for electricity use.
Other significant payments included a €72.1 million state subsidy to the Cyprus University of Technology and €48.3 million to the Research and Innovation Foundation. The Cyprus Sports Organisation received €45.3 million in state funding.
Among payments to private companies, Caramondani Desalination Plants Ltd received €36.8 million for water purchases. Cyfield Construction Ltd was paid €35.4 million for road construction, maintenance, and improvement, while NPT Nicosia Public Transport Services and Operations Ltd received €35.1 million for public passenger transport services.
Further payments included €30.8 million to the Cyprus Broadcasting Corporation (CyBC), €29.9 million to the Cyprus Agricultural Payments Organisation (CAPO) for subsidies and support measures for agricultural and livestock products, and €28.3 million to the Municipality of Paphos. A similar disbursement of €27.3 million was made to the newly formed Municipality of Nicosia, in both cases for projects co-financed by EU structural funds and loans implemented through non-governmental organisations.
The government also paid €23.5 million to M.N. Larnaca Desalination Co. Ltd and €21.6 million to M.N. Limassol Water Co. Ltd for water purchases.
As part of the Interest Rate Subsidy Scheme for eligible borrowers, the government made payments of €11.6 million to Bank of Cyprus, €5.2 million to Hellenic Bank, €1.6 million to Alpha Bank Cyprus, and €1.2 million to Eurobank Cyprus.
Additionally, state grants were paid to political parties to cover operational costs and the employment of parliamentary associates. These included €3.2 million to the Democratic Rally (DISY), €3.1 million to AKEL, and €1.7 million to the Democratic Party (DIKO). Payments to other parliamentary parties remained below the €1 million threshold.
(Source: CNA)
