Cyprus GDP to Grow 3.7% in 2024—Here’s What to Expect in 2025-2026

by THEFUTURE.TEAM

January 30, 2025

Cyprus’ economy gained momentum in 2024, with real GDP growth revised up to 3.7%, an upward adjustment of 0.2 percentage points, according to the latest Economic Outlook from the Economics Research Centre (CypERC) at the University of Cyprus. Growth is projected to remain solid but moderate in the coming years, with forecasts of 3.3% in 2025 and 3% in 2026.

Economic Drivers Behind The Growth

The upward revision is attributed to stronger-than-expected performance in Q3 2024, alongside positive economic indicators in Q4. The labour market’s resilience, disinflationary trends, and monetary policy easing in the eurozone have further bolstered the outlook.

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Other forecasts align with this trajectory. The Central Bank of Cyprus estimates 3.7% GDP growth in 2024, while the European Commission projects 3.6%. Looking ahead to 2025, both institutions anticipate a deceleration, with the Central Bank forecasting 3% and the European Commission predicting 2.8%. In 2026, the Central Bank expects a slight uptick to 3.1%, whereas the European Commission foresees a continued slowdown to 2.5%.

Inflation And Market Conditions

Inflation is expected to remain subdued, with CPI inflation forecast at 1.7% in 2025, a 0.4 percentage point drop from previous estimates due to lower-than-expected inflation in late 2024. For 2026, inflation is projected to edge lower to 1.6%.

Key factors shaping the inflation outlook include:

Falling international oil prices
A slowdown in inflation during H2 2024
Restrictive financing conditions
Lower selling price expectations, particularly in services

Risks And Uncertainties

CypERC highlights downside risks to the growth outlook, particularly amid rising geopolitical tensions and uncertainties in global trade policies. Conversely, inflation risks remain tilted to the upside, as external shocks and supply chain disruptions could drive price pressures higher.

As Cyprus navigates 2025 and beyond, the economy remains on a steady expansion path, though global and regional developments will play a crucial role in shaping its trajectory.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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