Nicosia, Cyprus. The Cyprus Ports Authority presented its 2026 budget to the House of Representatives Finance and Budget Committee on Monday, outlining financial performance and development plans for the country’s ports.
Budget presentation to parliament committee
During the session, board chairman Zenonas Apostolou highlighted the strategic importance of Cyprus’ ports to the national economy and broader economic activity. He said the ports are linked to trade, energy, shipping and tourism and serve as a gateway for economic activity.
Financial performance and planning
Apostolou said the authority has recorded steady improvement in its economic results in recent years and described the organisation’s financial course as particularly positive. He added that this performance shows a public organisation can operate responsibly with proper planning while investing in future development.
Development spending and port projects
The authority said the 2026 budget reflects this approach, with higher expenditure mainly directed towards development projects in port infrastructure. It said the investments are expected to strengthen port capabilities in coming years and enhance Cyprus’ role in trade and maritime activities.
Vasilikos port expansion
A key component of the authority’s plans involves the expansion of the port of Vasilikos, which it described as a strategic investment for the country.
How do you think planned port infrastructure investments could affect Cyprus’ trade and maritime activities?
