Limassol chamber challenges city’s 3.8% share of major infrastructure budget

Limassol, Cyprus. The Limassol branch of the chamber of commerce, Evel, has criticised the state budget for next year, saying that only three major infrastructure schemes concern the city. It put their combined value at approximately €57 million, or 3.8 per cent of a programme totalling roughly €1.5 billion.

Questions over investment priorities

The chamber said the allocation raised questions about how the state determines its priorities and whether it considers the needs of every province.

Evel argued that Limassol was the foremost pillar of Cyprus’s economy and made a decisive contribution to gross domestic product. It said the city was again receiving less priority than its economic importance warranted.

According to the chamber, Limassol could not lead economic development while being treated as a lesser priority for public investment.

Public infrastructure needed alongside private capital

Evel said private investment alone could not sustain the city’s growth. It argued that public infrastructure was necessary both for businesses to remain competitive and for residents’ quality of life.

The chamber said gaps in that infrastructure reduced productivity and increased costs for companies and residents.

The budget allocation comes after two decades during which private capital has flowed heavily into Limassol.