Cyprus first in EU and OSCE in education spending

Cyprus ranks first among the EU and OSCE member states as regards expenditure in the education sector, President Demetris Christofias said at the graduation ceremony of the University of Cyprus, adding that state expenditure in public education reaches 7.5% of GDP.
In his speech, the Rector of the University of Cyprus, Professor Constantinos Christofides, noted that in difficult times modern societies invest in education, research, technology and culture, adding that “wealth and power is knowledge and innovation”.
Christofides noted furthermore, “it is a fact that education costs a lot but non-education costs even more”. He criticized the government that Cyprus ranks last in expenditure in the field of research”.