Cyprus lagging behind in EU recovery fund requests

The European Court of Auditors on Tuesday raised concerns about the slow absorption of the Recovery and Resilience Facility (RRF) funds across the European Union, warning of potential risks to project completion within the planned timeline.

According to the ECA’s latest report, the funds aimed at boosting economic recovery following the pandemic are entering the real economy at a slower pace than anticipated.

As of the end of 2023, Cyprus had only submitted 40 per cent of...