Cyprus is expected to remain on a stronger economic path than both the eurozone and the wider European Union, Finance Minister Makis Keravnos said on Thursday, after the European Commission published its Spring Forecasts.
In a written statement, Keravnos said the forecasts underline the resilience of the Cypriot economy at a time of heightened uncertainty, particularly due to ongoing armed conflicts and their impact on the international environment. According to the Commission, Cyprus’ growth rate is projected at 2.3% in 2026 and 2.7% in 2027, with the country maintaining a satisfactory fiscal surplus and continuing to reduce public debt.
The Minister also pointed to the strength of the labour market, noting that employment is expected to rise by 1.3% in 2026, while unemployment is projected to fall to 4.2%, its lowest level in a decade. He said these figures place Cyprus above the average performance of both the eurozone and the European Union.
Keravnos said the forecasts come at an important moment, as Cyprus hosts the informal Eurogroup and Ecofin meetings over the next two days within the framework of its Presidency of the Council of the European Union, bringing together EU finance ministers and central bank governors.
The Spring Forecasts, he added, encourage the government to continue its economic policy with consistency, responsibility and discipline, creating secure conditions for investment and incentives for entrepreneurship, while protecting the economy from risks arising from the uncertain international environment.
Source: CNA
