Nicosia:According to Cyprus News Agency, the state budget has posted a fiscal surplus for the third consecutive year, with projections indicating it will reach approximately 4% of GDP in 2027. Public debt is also anticipated to decline, potentially falling to 45.2% of GDP by the end of 2027, as stated by Finance Minister Makis Keravnos during the submission of the 2027 state budget to the House of Representatives.

The Ministry of Finance, as reported by Keravnos, forecasts economic growth of 2.9%, an unemployment rate of approximately 3.8%, and a decrease in inflation to 2.5%.

Keravnos expressed a desire for a productive dialogue with the House of Representatives to ensure the timely approval of the budget and the maintenance of its fiscal balance.