Cyprus’ Economic Momentum: Stability, Growth, and a Resilient Banking Sector

by THEFUTURE.TEAM

February 7, 2025

Cyprus continues to show economic resilience, with strong fiscal policies and key industries driving growth. Speaking at the Cyprus Shipping Chamber (CSC), Central Bank Governor Christodoulos Patsalides highlighted a sharp decline in public debt and a positive GDP outlook.

Public debt fell from 114% of GDP in 2020 to 74% in 2023, with a target of below 50% by 2028. The CBC forecasts 3.7% growth for 2024, well above the Eurozone’s 0.7%, driven by technology, trade, tourism, financial services, shipping, and construction. Annual GDP growth is expected to remain around 3% through 2027, supported by rising domestic demand and infrastructure investments under the Recovery and Resilience Plan.

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Shipping, Employment, And Inflation

Despite global challenges, Cyprus’ shipping sector remains strong, ranking third in service exports at 17.2%. Unemployment fell to 5% in 2024, with a projected drop to 4.6% by 2027, outperforming the Eurozone’s 6.1%. Inflation eased to 2.2% in late 2024, with forecasts stabilizing near 2% through 2027.

Banking Sector: Progress With Challenges

Cyprus’ banking sector has strengthened, with the non-performing loan (NPL) ratio dropping from 7.9% in December 2023 to 6.5% in September 2024. However, the country still lags behind the EU average of 1.9%. Patsalides urged weaker banks to accelerate improvements.

With sound fiscal policies, a stable banking system, and ongoing investment, Cyprus is well-positioned for sustained growth despite global uncertainties. “We are strategically prepared for the challenges ahead,” Patsalides concluded.

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Tesla’s China-Made EV Sales Surge 35% Amid Fierce Industry Rivalry

by THEFUTURE.TEAM

March 13, 2026

Tesla’s China-made electric vehicle sales rebounded in early 2026, with combined deliveries for January and February rising more than 35% to 127,728 units on an adjusted basis. The increase follows seasonal adjustments related to the mid-February Lunar New Year and reflects renewed momentum for Tesla’s Shanghai Gigafactory. The facility supplies vehicles both to China’s domestic market and to export destinations across Europe and the Asia-Pacific region

China’s Robust EV Market

Data from the China Passenger Car Association (CPCA) indicates continued growth in China’s electric vehicle market despite intensifying competition among manufacturers. Although Tesla’s deliveries increased during the period, the company still trails Chinese automaker BYD in overall market share. BYD has strengthened its position through new battery technologies, including the Blade battery, which is designed to support significantly faster charging and improved safety.

Competitive Dynamics And Global Footprint

Production at Tesla’s Shanghai facility remains one of the largest sources of EV output globally. However, BYD overtook Tesla as the world’s largest electric vehicle manufacturer in 2025, supported by strong overseas expansion and a broader product portfolio. Tesla continues to rely on exports from Shanghai to support sales growth in international markets. Recent data has also shown rising vehicle registrations across several European countries, indicating sustained demand despite increasing competition.

Emerging Competitors And Market Shifts

Competition in China’s EV market has intensified as domestic manufacturers expand their offerings. Automakers such as Geely and Xiaomi are gaining market share by introducing vehicles with competitive pricing and advanced features. In February, one Geely model outsold vehicles from both Tesla and BYD in China, while Xiaomi’s YU7 SUV surpassed Tesla’s Model Y to become one of the country’s top-selling vehicles. The CPCA expects finalized sales data for March to provide further insight into market trends following the Lunar New Year period, which typically includes new model launches and increased production activity.

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