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Cyprus Achieves Largest Debt Reduction in Eurozone

by THEFUTURE.TEAM

Cyprus made significant strides in reducing its government debt, with the debt-to-GDP ratio falling to 70.5% by the end of the second quarter of 2024, according to Eurostat. This represents the largest decrease in the eurozone, with a 2.1% drop from Q1 2024 and a notable 10% reduction from Q2 2023.

In contrast, both the eurozone and the EU saw slight increases in their debt-to-GDP ratios. The eurozone’s ratio increased to 88.1% (up from 87.8% in Q1 2024), and the EU’s rose to 81.5% (up from 81.3%).

Despite Cyprus’ success, some countries continue to struggle with high debt levels. Greece and Italy recorded the highest ratios at 163.6% and 137.0%, respectively. Meanwhile, Bulgaria and Estonia maintained the lowest ratios at 22.1% and 23.8%.

The eurozone’s government debt is largely composed of debt securities, accounting for 84% of the total, while intergovernmental lending made up 1.5% of GDP.

Cyprus’ impressive debt reduction stands in contrast to the increases seen in countries such as Finland and Austria, demonstrating the country’s effective fiscal management amid global economic pressures.

Plug And Play Cyprus Expo 2026 To Showcase First Accelerator Cohort In Limassol

by News Editor

Overview

Plug and Play Cyprus will host its first Plug and Play Cyprus Expo 2026 in Limassol on Wednesday, 11 November 2026, bringing together startups, investors, industry leaders, founders and corporate partners for an event focused on open innovation. The Expo will take place at ETKO and will mark the completion of Plug and Play Cyprus’ first acceleration cohort on the island.

The event follows the launch of Plug and Play’s first Cyprus location in April 2026. The initiative is co-funded by the Republic of Cyprus through the Deputy Ministry of Research, Innovation and Digital Policy and the Research and Innovation Foundation, with support from corporate partners ASBIS, Tototheo, Mastercard and ECOMMBX.

Event Highlights

The Expo is not a standard networking event. It is the first public showcase of Plug and Play Cyprus’ accelerator activity and a chance to see the companies emerging from its first cohort.

The Expo will feature the first group of startups selected for Plug and Play Cyprus’ first cohort: Sprouty, ModelRoom, Cleedee, BLEND.app, Digital Fox, EleniAI, EMBIO Diagnostics, Fewton, Neura Energy and QubeHub.

It also gives the wider business community a first look at how Plug and Play’s global network is being activated locally. The Silicon Valley-headquartered platform operates in more than 60 locations across five continents and connects startups, corporates, venture capital firms, universities and government agencies.

Who Should Attend

The public evening Expo is aimed at founders, investors, corporate innovation teams, industry professionals and anyone interested in Cyprus’ startup and technology ecosystem. The Eventbrite listing positions the event as an opportunity to connect, collaborate and learn from the innovation ecosystem developing around Plug and Play Cyprus.

How To Register

Registration for the evening Expo is available through the Eventbrite page for Plug and Play Cyprus Expo 2026. The evening Expo and networking programme are open to the public free of charge, but registration for a ticket is required; places are limited, and access will only be permitted to attendees with a valid ticket.

The full agenda and speaker list are expected to be announced at a later stage.

About Plug And Play Cyprus

Plug and Play announced its first location in Limassol, Cyprus, in April 2026. Headquartered in Silicon Valley, Plug and Play operates in more than 60 locations worldwide and connects startups with corporations, venture capital firms, universities and government agencies across more than 25 industries.

Through its Cyprus programme, Plug and Play aims to connect local startups with international markets, corporate partners, investors and mentorship opportunities, supporting companies with global growth potential.

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