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Cyprus Growth Forecast Boosted By Central Bank’s Revised Projections For 2025

The Central Bank of Cyprus (CBC) has adjusted its GDP growth forecast for 2025, elevating it to 3.2%, a slight increase of 0.1% from December 2024 predictions. This revision portrays confidence in Cyprus’s economic resilience despite global uncertainties.

Key Economic Indicators Revised

While the CBC also reduced its unemployment expectations for 2025 to 4.7%, inflation forecasts saw a minor uplift to 2.1%. In line with this, core inflation, excluding volatile components like energy and food, nudged upwards to 2.2%.

Drivers Of Economic Growth

Domestic demand remains a cornerstone of this growth, bolstered by increased private consumption, infrastructure projects, and significant non-residential investments under the Recovery and Resilience Plan.

Meanwhile, the construction sector and net exports are set to further support the economy through export growth, particularly in technology and intellectual properties. Notably, tourism continues to thrive, even amidst regional challenges, preserving demand from markets like Israel and diversifying into high-value segments.

Insights Into Cyprus’s Economic Landscape

The CBC’s assessment resonates with global calls for economic resilience and strategic planning, akin to Europe’s ongoing pursuit of digital sovereignty and market adaptation strategies. This context underscores the importance of adaptability and strategic investment for sustained economic performance.

SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.

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