Cyprus Economy Grows 3.3% in H1 2026, Fiscal Surplus Reaches €770.6 Million
Cyprus recorded a strong economic growth of 3.3% in the first half of 2026, significantly outpacing the Eurozone average of 1%, according to Finance Minister Makis Keravnos. The growth was broad-based, led by wholesale and retail trade, information and communication technology, financial and insurance services, and construction. The minister emphasized the government's commitment to prudent and preventive fiscal policies that enhance economic resilience and credibility.
The fiscal surplus of the general government reached €770.6 million, or 2.0% of GDP, between January and July 2026, an increase compared to the previous year. Public debt declined to 55.0% of GDP by the end of 2025, falling below the 60% threshold for the first time since 2009. Unemployment remains at its lowest levels in a decade.
International rating agencies Standard & Poor’s, Fitch, and Moody’s have affirmed Cyprus’s investment-grade credit ratings with positive outlooks, citing fiscal discipline and a stable financial system. Despite ongoing geopolitical tensions and the global energy crisis impacting inflation and incomes, the government plans to continue policies that distribute growth benefits to households and businesses.
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