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Government in close coordination on energy planning, Spokesperson says 

There is very close coordination on the country’s energy planning to reduce the price of electricity as soon as possible, Government Spokesperson Konstantinos Letymbiotis has said.

He was speaking on 1 October, following the military parade for the Independence Day of the Republic of Cyprus in Nicosia.

Asked about developments in the energy sector following the meetings of President Nikos Christodoulides in New York, Letymbiotis said that significant steps have been taken in the three main pillars of the Republic of Cyprus’ energy plans, namely the arrival of natural gas, the electricity interconnections and the acceleration of Renewable Energy Sources penetration.

He further explained that important meetings were held in New York with the Greek Prime Minister and the French President regarding the electrical interconnection project, as well as with the United Arab Emirates state-owned company TAQA, which has expressed interest in participating in the Great Sea Interconnector project, and with Chevron regarding the Aphrodite project.

“We are in very close coordination because we understand and appreciate the importance of energy planning for every Cypriot household and its implementation as soon as possible to reduce the price of electricity in our country,” Letymbiotis said.

He also indicated that the decisions taken in the previous period should be activated and implemented as soon as possible.

Cyprus Services Sector Shows Robust Performance In 2025 As Tourism, Digital Innovation, And Shipping Surge

The Employers and Industrialists Federation (OEV) reported growth across Cyprus’ services sector in 2025, with increases recorded in tourism, professional services and administrative activities. Data show continued expansion across multiple sub-sectors, reinforcing the role of services in economic output and employment.

Service Sector Leadership

Accommodation and food services grew by 9.5%, while administrative and support activities increased by 7.4%. Professional, scientific and technical activities rose by 4.6%, followed by information and communication at 4.3%. Transport and storage recorded growth of 2.8%, while real estate activity increased by 0.4%. These figures indicate broad-based expansion across service industries.

A Remarkable Tourism Surge

Tourist arrivals reached 4,534,073 in 2025, marking a 12.2% increase year-on-year. December arrivals totaled 156,959, up 18% compared with the same period a year earlier. Tourism continues to support revenue generation and seasonal demand across the economy. Growth in visitor numbers contributes to activity in hospitality and related sectors.

Driving Digital Transformation

OEV is supporting digital adoption through initiatives such as the DiGiNN Cyprus Digital Innovation Hub. The program focuses on improving business processes, skills development and technology integration. Additional efforts include the establishment of a Digital Transformation and Innovation Committee and international engagement through business missions. These actions support the adoption of digital tools across sectors.

Resilient Shipping Sector

Shipping accounted for about 7% of Cyprus’s GDP in 2025, remaining a key component of the economy. The Cyprus Registry recorded its highest tonnage in 20 years, with an increase of nearly 20%. Fleet growth strengthens Cyprus’ position within European Union shipping registries and global maritime markets. The sector continues to contribute to economic stability.

Strengthening The Economic Foundation

OEV is organizing conferences, workshops and exhibitions to support business development across sectors. These initiatives focus on improving operational practices and industry collaboration. Continued investment in services and digital infrastructure is expected to support economic performance.

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