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Maroc Maroc - WN.COM - Business - 08/Sep 12:40

Cyprus urged to boost climate spending as risks rise

Spending to tackle the risks of the climate crisis in Cyprus remains far below what is necessary, according to a statement released on Monday by Cyprus’ national Fiscal Council. The warning comes ahead of preparations for the 2026 Budget and the Medium-Term Fiscal Framework 2026-2028. The Fiscal Council said Cyprus continues to lag in developing infrastructure, policies, and other tools to mitigate the impacts of climate change. “Impact estimates at fiscal, macroeconomic, and social levels must be a cause for concern,” it said, adding there is also potential political risk as Cyprus is on a trajectory of failing to meet its European Union obligations. It stressed that the cost of inaction...

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