Nicosia: Finance Minister, Makis Keravnos, expressed on Monday ‘full satisfaction’ with the findings of the European Commission’s Autumn 2025 Economic Forecast for Cyprus, noting, in a written statement that the report clearly confirms the steady progress, resilience and momentum of the country’s economy amid a global environment of geopolitical turbulence.
According to Cyprus News Agency, Keravnos highlighted that the European Commission finds Cyprus’ economic growth remains strong. Notably, the Autumn Forecast reveals a revision in projections for Cyprus’ 2025 growth rate by 0.4 percentage points compared to the Spring Forecast, bringing it to 3.4% from 3.0%. Additionally, the forecast for 2026 was adjusted by 0.1 percentage points, increasing to 2.6% from 2.5%. This positions Cyprus as the third fastest-growing economy in the eurozone.
The Commission’s report underscores the continued confidence of European institutions in Cyprus’ economy, which Keravnos attributed to the government’s consistent economic policy. This policy, he noted, lays the foundation for a sustainable, outward-looking, and socially fair development model. The Minister emphasized Cyprus’ movement towards stability, planning, responsibility, and prudent fiscal management.
Keravnos also reaffirmed the government’s commitment to accelerating reforms, including an upcoming tax reform aimed at boosting incomes, attracting high-quality investment, and building a modern, competitive, and resilient economy that creates opportunities for all citizens.
In a separate press release, the Ministry of Finance echoed the sentiments of satisfaction with the EU’s revised projections, which are in close alignment with the Ministry’s own forecasts. The Ministry viewed this alignment as another vote of confidence in Cyprus’ economic trajectory.