Nicosia: President Nikos Christodoulides conveyed a strong vote of confidence in the resilience and future prospects of the Cypriot economy following an upgrade of the Republic of Cyprus's credit rating. Standard and Poor's elevated the rating from 'A-' to 'A', maintaining a positive outlook, as announced in a recorded message by the President.

According to Cyprus News Agency, this marks a significant milestone for Cyprus as it returns to the 'A' rating category for the first time since 2011. President Christodoulides highlighted that this upgrade is a testament to the country's economic resilience, fiscal responsibility, and strong growth indicators.

President Christodoulides emphasized the real-world implications of the upgrade, noting its potential to create more and better-paid jobs, attract investment, and expand opportunities across various sectors. He underscored the impact on social policies, with potential enhancements in health, education, welfare, and housing due to the strengthened economy.

The President further elaborated on the broader benefits, including increased disposable income and improved daily life for citizens. He expressed confidence in building a secure foundation for future generations through responsible management, progress, and reforms.

In his concluding remarks, President Christodoulides stated that Cyprus is committed to strengthening its credibility and competitiveness, offering hope and prospects to all citizens, families, and businesses, transforming the nation with determination and strategic initiatives.