Celebrating Six Years of Gesy: A Closer Look at Cyprus’ National Health System

by News Editor

May 31, 2025

Since its inception in June 2019, Cyprus’ national health system, Gesy, has reached an impressive milestone: enrolling over a million beneficiaries and recording more than 42 million doctor visits.

Remarkably, the journey began with legislation passed in 2001, culminating in a robust health system that has seen over 3.6 million visits to radiological diagnostic centres, 17 million to laboratories, 43 million to pharmacies, and 1.3 million dental visits. A statement from the Health Insurance Organization (HIO) highlights its dedication to accessible, quality healthcare.

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The system’s financial sustainability until at least 2032 is backed by recent actuarial studies. Efforts to enhance the service have included legislative improvements, digital advancements, and public information campaigns. Last year alone, random checks and audits led to over €235,000 in fines for non-compliant providers. Financial trends reflect a supportive environment for such developments.

With performance indicators for medical professionals, new treatment protocols, and an enhanced referral process, the commitment to transparency and continuous improvement is evident. Beneficiaries can now evaluate their care experience through newly introduced questionnaires and navigate their options via a dedicated website. These steps aim to support patients, particularly those with chronic conditions.

As Cyprus continues to capitalize on surging health and financial fronts, Gesy’s values of social solidarity and equitable access remain at its core. With a strategic plan set to enhance healthcare offerings, bolster financial sustainability, and foster digital innovation, Gesy is not just surviving—it’s thriving.

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European Central Bank Report Highlights Stable Inflation and Economic Outlook

by THEFUTURE.TEAM

October 29, 2025

Overview Of Inflation Trends

The latest European Central Bank survey shows a slight decline in median inflation expectations over the next 12 months, decreasing from 2.8% in August to 2.7% in September. Despite this minor adjustment, consumer perceptions of past 12-month inflation have held steady at 3.1% for the eighth consecutive month. Long-term projections for three- and five-year inflation remain stable at 2.5% and 2.2% respectively.

Consumer Expectations Drive Income And Spending Projections

Across the board, expectations for nominal income growth over the upcoming year have remained consistent at 1.1%. However, there is a noticeable shift in spending behavior: while perceived nominal spending growth for the past year slipped slightly to 4.9% from 5.0%, expectations for spending growth over the next 12 months rose to 3.5%. Notably, lower income groups continue to forecast marginally higher spending increases compared to their higher income counterparts.

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Stability In Economic And Labour Market Outlook

Economic growth expectations are modestly pessimistic, with respondents forecasting a contraction of -1.2% over the next 12 months. Concurrently, anticipated unemployment levels remain unchanged at 10.7% a year ahead, though the outlook varies by income, with lower income households expecting unemployment rates as high as 12.7%, while higher income groups maintain expectations around 9.4%. Overall, the slight difference between current and future unemployment suggests a broadly stable labor market outlook.

Housing Market And Credit Conditions

The survey also reveals an upswing in expectations related to the housing market. Home price growth expectations have edged higher to 3.5%, and anticipated mortgage interest rates have risen modestly to 4.6%. Similar to other metrics, expectations vary by income, with lower income households expecting higher mortgage rates. In recent months, a marginal decline in reported credit tightening over the past 12 months contrasts with a renewed forecast of tighter credit conditions in the forthcoming year.

Conclusion

The ECB’s latest findings underscore the delicate balance between stable long-term economic forecasts and short-term adjustments in consumer expectations. The slight dips in inflation expectations, alongside stable perceptions of past inflation, delineate a marketplace that is both cautious and measured. As income, spending, and housing market metrics continue to evolve, these indicators provide critical insights for policymakers and investors navigating an increasingly complex economic landscape.

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