Nicosia: The 3.3% growth recorded by the Cypriot economy in the second quarter of 2026 highlights its strong growth potential and resilience, President of the Republic Nikos Christodoulides said on Friday, noting that the economy remains on a steady growth path despite challenges and uncertainty in the international environment.
According to Cyprus News Agency, in a written statement on GDP growth in the second quarter of 2026, President Christodoulides stated that 'with a growth rate of 3.3% in the second quarter of 2026, Cyprus has, for yet another quarter, recorded a performance more than triple the European average.'
The President emphasized that 'the latest strong performance of the Cypriot economy confirms that our country continues on a steady growth path, despite the challenges and uncertainty in the international environment.' He further added that 'it confirms that the Cypriot economy has strong growth potential and resilience.'
President Christodoulides highlighted that 'the results also reflect our responsible, consistent and prudent economic policy, based on continuous reforms, attracting investment, strengthening competitiveness and making use of our country's comparative advantages.' He described this as 'a policy that has also strengthened the credibility of the Republic of Cyprus and has created greater scope for targeted policies for the benefit of society.'
He underscored the importance of avoiding populism and empty declarations, which have historically been costly for Cyprus and its people. The President pointed out that the current economic course aligns with positive assessments by international rating agencies and increased investor and business confidence in Cyprus.
Furthermore, he noted that 'the strong growth trajectory is also reflected in the labour market, with Cyprus maintaining one of the lowest unemployment rates in the European Union.' He acknowledged the crucial contribution of workers and businesses to this progress.
In conclusion, President Christodoulides stated that 'we continue with the same seriousness, responsibility and consistency, working towards a stronger, more competitive, and resilient economy, with the overriding objective of improving citizens' daily lives and creating a greater sense of security for every citizen.'