Dialogos

Cyprus Parliament Approves Twelfth-Month Authorizations for Semi-Governmental Organizations

Published January 22, 2026, 18:05
Cyprus Parliament Approves Twelfth-Month Authorizations for Semi-Governmental Organizations

The Plenary of the Cyprus Parliament unanimously approved twelfth-month authorizations for semi-governmental organizations for February, allowing them to make expenditures without an approved budget. This decision was deemed necessary due to the delay in the approval of the budgets of certain organizations. In addition, the budgets of three pending organizations were approved. However, the budgets of another seven organizations remain outstanding, highlighting the need for a faster approval process. The decision authorizes semi-governmental organizations to spend an amount not exceeding the corresponding amount for February 2025, until their budgets for 2026 are approved. The President of the House Finance Committee and the President of the House reminded of the need for timely submission of budgets. The budgets approved today concern the Public Oversight Authority of Audit Profession (POAAP) and the Unified Resolution Authority of Financial Disputes (URAFD).