[PIO] Meeting of the Minister of Finance with the European Commissioner for Budget and Administration

Finance Minister Makis Kerynos met today, at the Ministry of Finance, with the European Commissioner for Budget and Administration Johannes Hahn.

During the meeting, the Minister of Finance had the opportunity to brief the Commissioner on the economic developments of the Cypriot economy, the positive course in 2022 and the future prospects for the growth rate of the Cypriot economy.

For his part, the Commissioner informed the Minister about the European Commission's intentions regarding the revision of the Multiannual Financial Framework 2021-2027 and the system of new own resources for the EU budget.

The Minister and the Commissioner had the opportunity to exchange views on how to address the many challenges that have emerged, especially after the rise in interest rates and the Russian invasion of Ukraine, through the European Budget.

The Minister of Finance outlined Cyprus' positions on the future course and targeting of the European Budget. He underlined the readiness of the Cypriot side to constructively discuss proposals from the European Commission in order to address the multi-level challenges facing the European Union.

Finally, ways in which the European Funds will continue to support EU economies were discussed, with the Commissioner congratulating Cyprus for its performance in the use of European Funds.

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