NICOSIA: Cyprus’ Finance Minister, Makis Keravnos, has announced adjustments to the public interest rate on arrears and the court interest rate, setting them at 5.5% and 6%, respectively. The new rates will be effective starting January 1, marking a notable change from previous figures.
According to Cyprus News Agency, the decree for the public interest rate on arrears for 2025 establishes this rate at 5.50%, thereby repealing the 2024 decree that had set it at 5%. The public interest rate on arrears pertains to the interest payable by or to the state resulting from delays in the repayment of debts owed by or to the state.
In addition, a separate decree issued by the Finance Minister sets the court interest rate at 6%, an increase from the 2024 rate of 5.50%. This adjustment reflects the state’s updated financial policy concerning legal financial obligations.