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University of Cyprus Budget Balanced

Published February 18, 2026, 12:08
University of Cyprus Budget Balanced

The University of Cyprus's budget for the current year is balanced, totaling €226 million, following the approval of an additional state grant of €3 million. Initially, the university had requested an additional €7 million, but the budget prepared in June was in deficit. The budget is €420,000 larger than last year's, with revenues coming from state funds at 66% (€150 million) and other sources at 34% (€76 million). 43% of the budget, or €97.9 million, is allocated to benefits such as salaries and pensions. Operating expenses amount to 6.7% (€15.2 million), while administrative expenses account for 10% (€22.6 million), showing an increase compared to the previous budget. Conversely, capital expenditures decreased by 20%, reaching €35.5 million. In addition, €46.4 million is allocated to externally funded research projects, the Erasmus exchange program, and consulting services, while €8.4 million is allocated to projects co-financed by EU funds and the university. The Vice-Rector for Finance informed the Parliamentary Education Committee about the progress of the university's infrastructure projects. The completion of the medical school is expected on March 24, while the inauguration of the building with shared teaching spaces is scheduled for June. Also, the installation of photovoltaic systems with a capacity of 5 megawatts has been completed, which is expected to produce 8.4 megawatt-hours of clean energy annually. Finally, the university has completed the project note and feasibility study for the construction of student dormitories and is awaiting approval from the competent authorities to proceed with the implementation of the project.