Cyprus: Spending on Research and Development More Than Doubled
Cyprus's government spending on Research and Development (R&D) has more than doubled in the last decade, according to Eurostat data.
Specifically, spending increased by 134%, from ā¬61.9 million in 2014 to ā¬145 million in 2024. However, the percentage of R&D spending as a percentage of GDP remains below the EU average, at 0.43% compared to 0.71%.
In 2024, Cyprus spent an average of ā¬150.1 per capita on public research, lower than the EU average (ā¬284.7). In the EU, government spending on R&D increased by 3.4%, reaching ā¬127.9 billion.
From 2014 to 2024, all member states increased per capita spending on R&D, with the largest increases recorded in Latvia, Slovenia, and Lithuania.
More than one-third of the funds were channeled into the general enhancement of knowledge through public university funding.
Source: CNA