The 2026 budget of the Cyprus Agricultural Payments Organization (CAPO) is slightly in deficit, as presented to the House Finance Committee.
The budget was presented by the Commissioner for Agricultural Payments, Andreas Kyprianou, on 26 January.
According to Kyprianou, CAPO’s projected revenues for 2026 amount to €16,931,900, while expenditure is estimated at €16,991,470, resulting in a deficit of €59,570, which will be covered by the organisation’s cash reserves.
By comparison, in 2025 revenues in the approved CAPO budget stood at €17,042,800, while under the revised budget they amounted to €16,356,600. Correspondingly, expenditure was €17,354,950 in the approved budget and €16,615,000 in the revised budget, with the final deficit for the year reaching €258,400.
Of the nearly €17 million in this year’s budget, €16.6 million derives from the state grant. It is noted that the state grant shows an increase of €300,000 compared with 2025, due to a reduction in interest income received by CAPO.
According to the explanatory report submitted by CAPO to the House Finance Committee, its Operating Fund covers staff costs, operating expenses and capital expenditure. Of CAPO’s total budgeted expenditure for 2026 (€16,991,470), €12,726,800 relates to staff costs, €3,249,470 to operating expenses and €1,015,200 to capital expenditure.
(Source: CNA)
