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European Parliament Approves Nearly €200 Billion Budget For 2025

by THEFUTURE.TEAM

November 28, 2024

The European Parliament has officially approved the European Union’s 2025 budget, amounting to an impressive €199.4 billion. The budget reflects a 6% increase compared to 2024, showcasing the EU’s commitment to addressing key challenges and investing in its future.

Focused Investments

The budget prioritises programmes designed to enhance citizens’ quality of life, foster competitiveness, and address pressing challenges. Over €230 million has been added to key initiatives, including:

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“Erasmus+” Programme: An additional €422 million will support education, training, youth, and sports across the EU.
“Horizon Europe” Programme: A €20 million boost for scientific research and innovation.

Support for Strategic Goals and Crisis Management

Funding is allocated to Ukraine aid and critical technology investments through the Strategic Technology Platform for Europe (STEP).
Financial provisions for Next Generation EU interest payments are included.
Additional resources are set aside for natural disaster emergency aid and humanitarian crises, both within and beyond EU borders.

This ambitious budget underscores the EU’s strategic focus on fostering innovation, supporting education, and responding to global and regional challenges. By securing substantial funding increases across critical programmes, the EU aims to ensure sustainable growth and resilience in the face of uncertainty.

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Cyprus Construction Trends: Permit Count Slips While Value and Scale Surge in 2025

by THEFUTURE.TEAM

July 11, 2025

The Cyprus Statistical Service (Cystat) has reported a notable shift in the construction landscape for 2025. The latest figures reveal a modest 1.9% decline in building permits issued in March compared to the same month last year, signaling a nuanced trend in the nation’s developmental activities.

Permit Count Decline in March

In March 2025, authorities authorised 572 building permits—down from 583 in March 2024. The permits, which total a value of €361.5 million and cover 296,900 square metres of construction, underscore a cautious pace in permit approval despite ongoing projects. Notably, these permits are set to facilitate the construction of 1,480 dwelling units, reflecting an underlying demand in the housing sector.

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Q1 2025: Growth in Value, Construction Area, and Dwelling Units

While the number of permits in the first quarter (January to March) decreased by 15.8% from 1,876 to 1,580, more significant, economically relevant metrics saw robust growth. Total permit value surged by 21.7%, and the authorised construction area expanded by 15.6%. Additionally, the number of prospective dwelling units increased by 16.7% compared to the corresponding period last year. This divergence suggests that although fewer permits were issued, the scale and ambition of the approved projects have intensified.

New Regulatory Framework and the Ippodamos System

Since 1 July 2024, a pivotal transition has taken place in permit administration. The responsibility for issuing permits has moved from municipalities and district administration offices to the newly established local government organisations (EOAs). The integrated information system, Ippodamos, now oversees the licensing process, streamlining data collection on both residential and non-residential projects across urban and rural areas.

Comprehensive Data Collection for Enhanced Oversight

The Ippodamos system categorises construction projects using the EU Classification of Types of Construction (CC). This platform gathers extensive data on the number of permits authorised, project area and value, and the expected number of dwelling units. It covers a broad spectrum of construction activities—from new builds and civil engineering projects to plot divisions and road construction—while excluding renewals and building divisions. The thoroughness of this new regulatory structure promises greater operational transparency and more informed decision-making for policymakers and industry stakeholders.