Philenews

Parliament Approves Budget for Cyprus Academy of Sciences, Letters and Arts

Published February 26, 2026, 17:11
Parliament Approves Budget for Cyprus Academy of Sciences, Letters and Arts

The House of Representatives of Cyprus has approved the budget of the Cyprus Academy of Sciences, Letters and Arts for 2026, amounting to €570,000. The budget is balanced, with revenues and expenses equal, with state funding being the sole source of income. Expenses are allocated to administrative costs (€566,500) and development costs (€3,500). The budget was submitted to the Council of Ministers after amendments requested by the Ministries of Finance and Education. The President of the Academy, Achilleas Aemilianides, stated that the slight increase compared to the previous year is due to the hiring of three new administrative staff, made possible by the increase in state funding. It is noted that the budget does not include funds for the renovation of the building of the Priestly School, which has been granted to the Academy by the Holy Metropolis of Kykkos and Tillyria. The cost of the renovation is estimated at €1.3 million plus VAT, with an estimated completion time of two years. The approval of the budget by the Parliament marks the continuation of the Academy's operation and the implementation of its strategic goals, despite economic challenges and the need for facility renovation.

Share:
Read Full Article on Philenews

You Might Also Like

Back to News