Cyprus Achieves Largest Debt Reduction in Eurozone

by THEFUTURE.TEAM

October 23, 2024

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%).

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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.

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WISTA Cyprus Uses Music And Creativity To Bring The Sea Closer To The Next Generation

by THEFUTURE.TEAM

October 9, 2026

WISTA Cyprus brought members and their families together in Limassol for a children’s workshop focused on the Mediterranean monk seal, the sea, and the marine environment as part of its World Maritime Day 2026 activities.

A Creative Entry Point To Maritime Awareness

The workshop, titled Here Only Monachus, took place on September 19 at the Limassol Municipal Gallery and offered children an engaging introduction to the Mediterranean monk seal (Monachus monachus) through music, sound and creative activities.

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Led by Rebecca Katsaris, associate educator at Enalia Physis, and music educator Christina Charalambidou, the session invited children to listen closely to the sounds of the sea, experiment with instruments and collaborate on creating their own musical piece.

Building Family Connections Around The Maritime World

For WISTA Cyprus president Anna Pittalis, the event was as much about community as it was about education.

“Our members came together not only as colleagues and professionals, but also as mums and dads, bringing their children with them,”
she said.

Pittalis added: “Our connection with the sea starts long before a career in maritime. It starts with curiosity, with discovering what is beneath the surface, and with learning to appreciate the world around us.”

Part Of A Broader Maritime Day Programme

The workshop formed part of WISTA Cyprus’ wider programme for World Maritime Day 2026, observed under the theme From Policy to Practice: Powering Maritime Excellence.

For the association, creating meaningful opportunities for younger generations to engage with the marine environment is also part of strengthening long-term ties to the maritime sector.

About Wista Cyprus

WISTA Cyprus is the local chapter of the Women’s International Shipping & Trading Association (WISTA International), a global network connecting women across the maritime, trading and logistics sectors. The organisation provides a platform for networking, professional development, knowledge-sharing and collaboration, while working to expand visibility and opportunities for women throughout the industry.

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