Absorption of EU funds paramount says President

President Nikos Christodoulides on Tuesday highlighted the need for complete absorption of EU funds as he received the 2022 annual report from the Cyprus agricultural payments organisation (Capo).

He stressed this as he heads to Brussels on Wednesday for a meeting of the European Council. It is especially important for the agricultural sector, he added.

Addressing concerns about potential reductions in cohesion funds and the Common Agricultural Policy, Christodoulides affirmed Cyprus’ stance against any cuts, citing the challenges faced by the EU and the importance of supporting the primary sector.

He said recent government decisions to support the sector have included water subsidies for western Nicosia and additional support for milk production.

He acknowledged the decline of the primary sector in Cyprus and stressed the need for a strategic approach to revitalise it, revealing the government’s commitment to increase its share in the country’s GDP.

Commissioner Andreas Kyprianou stressed that Capo acts as an implementer of both national and European policies, highlighting its role in ensuring timely and valid payments to the agricultural community.

He praised the cooperation with the agriculture ministry, underlining Capo’s commitment to receiving and managing funds from the EU and implementing national decisions to support the rural sector.

Acknowledging the challenges faced by the agricultural economy, Kyprianou expressed optimism about its future, particularly if focus is directed towards traditional Cypriot products and their certification.

He emphasised the importance of combating urban migration by fostering rural economies.