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Cyprus parliament Revises Student Aid Law, Grants Up 10% For Incomes Up To €44,000

Overview

Parliament approved amendments to the State Student Assistance Law, expanding eligibility criteria and increasing financial support for students. Changes include higher income thresholds, increased grant amounts and removal of income and asset criteria for large families.

Key Revisions

Lawmakers increased the eligible household income threshold by €5,000, expanding access to state support. Families with annual income up to €44,000 will receive a 10% increase in student grants under the updated framework.

Eligibility rules were revised to remove income and asset criteria for families with more than five dependent children. Previous restrictions on combining student aid with tax deductions were also removed, allowing broader financial support. Authorities may extend the application deadline subject to approval by the Council of Ministers.

Voices From Parliament

Sotiris Ioannou, Member of Parliament representing E.L.A.M, said the changes will expand access to support with limited budget impact. He added that families with four children remain partially excluded under the current criteria.

Alekos Tryfonidis, Member of Parliament from DIPA, said higher income thresholds and the removal of asset requirements will allow more students to access funding. He noted that eligibility rules for households with four dependent children remain unresolved.

Christos Christofidis, Member of Parliament from AKEL, said the amendments mark progress after years without changes to student support policy. He added that approximately 3,200 additional families are expected to benefit from the revised framework.

Impact And Implementation

The updated law expands the number of eligible households and increases financial support levels. Changes are expected to improve access to higher education funding across different income groups. Implementation will depend on application uptake and administrative adjustments following the legislative changes.

Robust Cyprus Construction Activity Bolsters Vassilico Cement’s 2025 Performance

Vassilico Cement Works Public Company Ltd reported a net profit of €35.52 million for 2025, supported by strong construction activity in Cyprus. Company profit reached €34.99 million, reflecting higher revenues and improved operating performance.

Domestic Market Growth Driven By Cyprus Construction

Group revenue rose to €152.75 million, while company revenue reached €152.66 million, up 11% year on year. Growth was driven by increased sales volumes in the domestic market, where construction activity remained strong throughout the year.

Enhanced Production Efficiency And Cost Management

Gross profit increased to €50.30 million at group level and €50.21 million at company level, compared with €42.49 million in 2024. The improvement reflects gains in production efficiency and cost control, supported by higher use of alternative fuels and improved electricity efficiency. These measures reduced unit costs while supporting environmental targets.

Executive Insights And Macroeconomic Outlook

Executive Chairman Antonis Antoniou said strong domestic demand supported production volumes, with the company maintaining focus on the local market and managing exports selectively. He added that favorable economic conditions in Cyprus contributed to performance, despite regulatory pressures in Europe and broader geopolitical uncertainty.

Navigating Energy And Regulatory Challenges

Future performance will be influenced by energy market volatility and European climate policy, including carbon pricing and the Carbon Border Adjustment Mechanism. Rising fuel and electricity costs continue to affect energy-intensive industries.

The company is expanding its renewable energy capacity, with a photovoltaic park reaching 16MW and plans for an additional 8MW, subject to grid connection. The investments aim to improve cost stability and energy efficiency.

Shareholder Returns And Strategic Investments

The board approved an interim dividend of €0.15 per share, totaling €10.79 million, on September 25, 2025. A final dividend of €16.55 million, or €0.23 per share, will be proposed. Combined, total dividends amount to €27.34 million, or €0.38 per share.

Management said the company will continue focusing on efficiency, cost control and sustainability as it navigates energy market pressures and regulatory requirements.

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