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Cyprus’ Financing Programme On Track Amidst Economic Optimism

by THEFUTURE.TEAM

July 22, 2024

Cyprus is advancing its annual financing programme efficiently, aligning closely with its fiscal targets for 2024. The approved borrowing ceiling stands at €1.3 billion, predominantly sourced from European Medium-Term Notes (EMTN). So far, Cyprus has successfully raised nearly €1.2 billion, including a recent €1 billion, seven-year fixed-rate bond issued in June.

The financing strategy also includes public treasury bills and domestic bonds aimed at individual investors. To date, €87.5 million of the targeted €120 million in treasury bills and €6.4 million of the intended €40 million in domestic bonds have been issued. Furthermore, Cyprus has secured €92.75 million in loans from supranational organisations, progressing towards the €140 million goal.

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Public treasury bills, set to mature in October 2024, offer an annualised yield between 3.65% and 3.75%, presenting an attractive option for non-professional investors and businesses seeking secure liquidity management.

Sophic, a financial platform, plans to acquire a portion of the upcoming treasury bill issuance, replicating its strategy from June where it, alongside Athlos Capital, acquired over 80% of the €21.5 million issuance for client allocation.

Cyprus’ prudent financial management and structured approach towards funding reflect a robust fiscal framework aimed at maintaining economic stability and fostering investor confidence. This meticulous execution of the financing programme underscores Cyprus’ commitment to strategic fiscal governance and economic resilience, which are vital for sustaining long-term growth.

The ongoing success of Cyprus’ financing programme highlights the nation’s proactive fiscal planning and the effectiveness of its public debt management office. By securing diverse funding sources and maintaining investor engagement, Cyprus continues to bolster its financial stability and economic prospects.

As Cyprus progresses with its financing activities, the focus remains on sustaining fiscal discipline while leveraging favourable market conditions to optimise funding costs. This approach not only ensures the fulfilment of immediate financing needs but also lays a solid foundation for future economic resilience.

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Cyprus Producer Prices Extend Gains In June

by News Editor

August 6, 2026

Industrial producer prices in Cyprus increased by 0.3% in June, according to Eurostat, extending the upward trend after a sharp 3.2% rise in May. Prices had also increased by 0.3% in April following a 0.6% decline in March.

The broader European picture was more subdued. Producer prices fell by 0.3% across the euro area and by 0.2% in the European Union compared with May, reversing the monthly gains recorded in both regions a month earlier.

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Energy Prices Weigh On Monthly Performance

The decline across the euro area was largely driven by energy prices, which dropped 1.5% month on month, while EU energy prices fell by 1.4%.

Excluding energy, industrial producer prices rose by 0.2% in both the euro area and the EU. Intermediate goods posted a 0.3% increase, while capital goods and durable consumer goods also recorded modest gains. Prices for non-durable consumer goods were broadly unchanged in the euro area and edged down by 0.1% across the EU.

Annual Growth Remains Strong

Compared with June 2025, industrial producer prices rose by 4.6% in the euro area and 4.7% across the EU.

Energy remained the main driver, with annual increases of 8.8% in the euro area and 10% across the EU. Intermediate goods also recorded strong gains, rising 6.1% and 5.7%, respectively, while prices excluding energy increased by 3% in the euro area and 2.9% across the bloc.

Bulgaria Records The Largest Increase

Among EU member states, Slovakia recorded the strongest monthly increase in producer prices at 1.1%, followed by Romania at 1.0% and Estonia at 0.9%. The steepest monthly declines were reported in Lithuania (-1.7%), Ireland (-1.5%), and Bulgaria and Greece (both -1.3%).

On an annual basis, Bulgaria posted the largest increase at 18.2%, ahead of Romania (14.3%) and Ireland (11.4%). Luxembourg was the only member state to record an annual decline, with producer prices falling by 3.2%.