Nicosia: The confirmation of Cyprus’ credit rating by Standard and Poor’s at A- and the upgrade of the outlook to Positive from Stable reflects the consistency and responsibility in fiscal choices, President Nikos Christodoulides stated in a written statement.
According to Cyprus News Agency, President Christodoulides emphasized that the affirmation of Cyprus’ credit rating and the improved outlook are indicative of the country’s consistent and responsible fiscal policies. He stressed that these developments highlight the promotion of reforms and Cyprus’ emergence as a reliable center for quality investments, which provide tangible benefits such as reduced borrowing costs, enhanced entrepreneurship, and the creation of new, well-paid jobs.
The President further noted that the strategic choice of adopting a competitive, technologically driven, and outward-looking economic model is yielding positive results, thereby enhancing the country’s economic prospects.