CYPRadar 🇨🇾💰 Economic expert warns prolonged Iran crisis could slow Cyprus growth
Cyprus faces potential economic slowdown if the Iran crisis in the Middle East continues, according to economist Tasos Yasemidis. He highlighted that ongoing geopolitical tensions could reduce the growth rate of the Cypriot economy amid rising energy costs and global uncertainty.
Yasemidis pointed out that the latest IMF forecast limits global economic growth to 3% in 2026, underscoring geopolitical conflicts as major risks to international financial stability. The instability affects energy prices, transportation, and international trade, all of which impact Cyprus, heavily reliant on energy imports.
He stressed the importance of prudent fiscal policies, reform acceleration, and strengthening the resilience of Cyprus’ economy. Despite the challenges, Yasemidis noted Cyprus’ solid fundamentals, including fiscal stability, improved credit ratings, and a resilient banking system that provide protection against external shocks.
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