Finance Minister, Makis Keravnos, has expressed “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.
“It is particularly encouraging that the European Commission finds that Cyprus’ economic growth remains strong,” Keravnos said, noting that, according to the Autumn Forecast, the Commission revised its projections for Cyprus’ 2025 growth rate by 0.4 percentage points compared with the Spring Forecast (to 3.4% from 3.0%), and its 2026 forecast by 0.1 percentage points (to 2.6% from 2.5%). “This places Cyprus as the third fastest-growing economy in the eurozone,” he added.
The Commission’s report, “confirms the continued confidence of the European institutions in Cyprus’ economy”, he said, adding that this was the result of the government’s “consistent economic policy, which lays solid foundations for a sustainable, outward-looking and socially fair development model.”
“Cyprus is moving forward with stability, planning, responsibility and prudent fiscal management,” he noted.
The Minister reaffirmed the government’s commitment to accelerating reforms, including the upcoming tax reform, “with the aim of boosting incomes, attracting high-quality investment, and building a modern, competitive and resilient economy that creates opportunities and prospects for all citizens”.
In a separate press release, the Ministry of Finance also welcomed the Commission’s Autumn 2025 forecast. “The EU’s revised projections, which closely align with the Ministry’s own forecasts, represent yet another vote of confidence in Cyprus’ economy,” the Ministry said.
The statement and press release were published on 17 November.
Also read: EU Commission’s Autumn 2025 Economic Forecast positive for Cyprus
(Source: CNA)
