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Strategic Transformation for Cyprus Potato Producers: Council Adopts New Private Company Model

by THEFUTURE.TEAM

October 10, 2025

The Council of Cypriot Potatoes (SEKP) is poised to enter a new era as it embraces a comprehensive operational reform aimed at lowering costs and ensuring long-term industry sustainability. This change comes on the heels of the Ministerial Council’s decision to approve the “Modifier Act on the Marketing of Cypriot Potatoes 2025,” a legislative initiative that promises to reshape the sector.

Modern Legislative Framework for Enhanced Efficiency

Submitted by the Ministry of Agriculture, Rural Development, and Environment, the proposed bill seeks not only to update existing protocols but also to transform the SEKP. Under the new framework, a private company wholly owned by the SEKP will be established to manage essential operations more flexibly and cost-effectively. Although the new law is slated for implementation on October 1, 2026, current legislative provisions will remain in force until then, ensuring a seamless transition.

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Cost Optimization and Institutional Modernization

The creation of a dedicated private entity is designed to streamline the operational burdens currently borne by the SEKP, which has played a pivotal role in supporting Cyprus’s dominant potato production and export market. This reform not only aims to cut operational expenses but also reinforces the continued functioning of the SEKP as a public legal body—a balancing act between modern efficiency and traditional public oversight.

Sector Impact and Export Performance

With approximately 1,300 potato producers in Cyprus—half of whom rely on the SEKP for packaging and marketing—the potato industry stands as the country’s most significant agricultural sector by volume. Overall, potatoes contribute 23.2% to the total production tonnage, with exports predominantly destined for Greece, the United Kingdom, Germany, Belgium, and Poland. Recent statistics highlight that during the first half of 2025, potato exports reached €37 million, underscoring the commodity’s crucial role in the national economy.

Governance Reforms and Structural Adjustments

The proposed legislation also calls for a reconstitution of the SEKP’s Administrative Board—reducing its size from 11 to 7 members—with updated representation from key government and agricultural bodies. Specific measures include the abolition of the General Director’s position and a narrowed scope for the board’s authority to hire new personnel. Additionally, mechanisms have been introduced allowing the SEKP to secure loans under ministerial oversight, ensuring financial fluidity during the restructuring process.

A Forward-Looking Vision for the Potato Sector

This ground-breaking reform, shaped by extensive public and institutional consultations since February 2025, represents a decisive step towards modernizing Cyprus’s agricultural institutions. The SEKP, despite longstanding structural challenges, has remained an essential pillar in promoting potato exports. Under the new model, the organization is set to operate more effectively, ensuring that the interests of potato producers and associated agricultural businesses are safeguarded well into the future.

Minister Maria Panagiotou, having received authorization from the Ministerial Council, is now set to present the bill to the House of Representatives for discussion and vote. With the option for further technical legislative adjustments during parliamentary proceedings, this initiative underscores a steadfast commitment to advancing a sector that is central to the nation’s agricultural success.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.