The Audit Office has concluded that the initial design of Cyprus’s Recovery and Resilience Plan was characterised by structural weaknesses and overly optimistic assumptions.
According to its findings, deficiencies were evident during the early stages of the Plan’s formulation, particularly in relation to the maturity of proposed projects and the feasibility of their implementation within prescribed timeframes.
The report highlights that a number of projects were incorporated without adequate preparatory work, thereby increasing the risk of delays and implementation challenges. In several instances, both cost estimates and delivery timelines were deemed unrealistic.
Furthermore, the Audit Office identifies shortcomings in inter-agency coordination, as well as gaps in monitoring and oversight mechanisms during the Plan’s initial phases.
Notwithstanding these concerns, the report acknowledges that corrective measures were introduced during the course of implementation, leading to improvements in certain areas.
The Audit Office underscores the need for more robust planning, realistic forecasting, and enhanced coordination, in order to safeguard the effective utilisation of funds and to ensure the successful delivery of projects under the Recovery and Resilience Plan.
