President Christodoulides Announces 2025 Budget Surplus, Prioritises Economic Strength And Social Reforms

In a bold economic declaration, Cyprus’ President Nikos Christodoulides revealed a budget surplus forecast for 2025 during a recent Cabinet meeting. This announcement underscores the government’s strategic focus on fiscal responsibility, strong financial systems, and comprehensive reforms.

Strategic Fiscal Management

President Christodoulides emphasised the critical need for meticulous budget management across ministries. He called for a detailed review of each ministry’s budget to categorise non-negotiable operational costs alongside social and developmental expenses. The intent is to ensure every ministry aligns its priorities with the overarching budget ceilings, promoting efficient utilisation of resources.

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Pillars of Economic Strength

The proposed surplus is built upon three foundational pillars: fiscal discipline, a robust financial system, and aggressive reforms. This approach aims to solidify Cyprus’ economic resilience, fostering a stable environment conducive to sustainable growth and development.

Social and Developmental Focus

Central to the budget are the “flagship policies” targeting digital transformation, climate change, and addressing infertility, reflecting a holistic approach to national development. The government’s commitment to a “social contract” with its citizens is evident, promising enhanced social spending and developmental initiatives.

Transparent and Inclusive Governance

In a bid to maintain transparency and public engagement, President Christodoulides has mandated that each ministry publicly present its budget and outline specific actions and reforms. This move is designed to ensure that the annual budget reflects both the President’s vision and the governance programme’s priorities.

Supporting the Middle Class

Government spokesperson Konstantinos Letymbiotis highlighted that the budget will particularly focus on supporting the middle class. The detailed presentations from the Ministries of Labour and Social Insurance, Energy, Trade and Industry, Foreign Affairs, and various Deputy Ministries reflect a comprehensive approach to policy implementation.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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