Cyprus Parliament Reviews National Loss Fund Amid Asset Reforms

by THEFUTURE.TEAM

February 19, 2026

National Loss Fund And Confiscated Assets

In its recent session, the Parliamentary Committee on Refugees revisited the law proposal aimed at securing the National Loss Fund for the Use of Confiscated Assets. A representative from the Ministry of Finance affirmed that the accompanying regulations are under preparation and will be submitted once finalized, while also voicing opposition to the creation of an independent agency.

Legislative Proposals And Fiscal Perspectives

Originally introduced by DISY in September, the law is supported by two amendments tabled by AKEL and anticipates the incorporation of forthcoming regulations from the Ministry of Interior into legislation governing the Central Agency For Equitable Resource Distribution. Committee member Nikos Kettseros emphasized that with funding of €20 million, roughly four in ten confiscated property owners would receive about €2 per month, a figure that remains modest even under a €100 million scenario. The proposed amendments include reallocating unassigned funds from the Agency into a dedicated loss-of-use fund to bolster financial support.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Housing Loan Subsidies And Transition Measures

Additional amendments under discussion involve the subsidization of housing loans at a 0% rate and the establishment of a six‐month transitional period starting January 1, 2027, to integrate older loans into the governing framework. The Ministry of Interior has stated that the regulations will focus on land valuation, clarifying that those who have sought refuge in the committee regarding confiscated assets will not be entitled to compensation. These measures indicate that the fund could operate effectively under the existing structure without necessitating a separate independent body. DISY legislator George Karoulas has advocated for a legally entrenched national fund with sustainable financing, while also expressing concerns about potential delays in finalizing the regulations.

KtiZó Initiative And Housing Regulations

The session also addressed the KtiZó initiative, designed to provide grants for existing multi-family buildings in government housing projects. Senior official Eirini Giannakou from the Department of Urban Planning and Housing announced the completion of a new guide spanning approximately 500 pages, which clearly defines procedures and responsibilities. Despite this progress, stakeholders noted ongoing challenges related to beneficiary contributions and property ownership classifications. Giannis Sofokleous, a senior official from the Ministry of Interior, confirmed that the guidelines are currently under review and will undergo legal scrutiny, with the expectation that minimal further revisions will be required thereafter.

Property Issues In The Industrial Zone

The committee also examined property disputes and delayed contracts affecting displaced residents in the Pane Polemidion Industrial Zone. The committee chair announced that a formal letter will be dispatched to the Minister of Interior, with the matter slated for further discussion on March 17. Local officials from the Municipality of Kato Polemidion and representatives of refugee organizations raised issues regarding access, parking, and property rights, calling for immediate remedial action.

The Future Forbes Realty Global Properties

EU Services Production Grows As Information And Communication Lead

by THEFUTURE.TEAM

November 10, 2026

Services production continued to expand across the European Union in August 2026, with information and communication recording the strongest annual growth. However, performance varied significantly between industries and member states, while Cyprus reported a mixed picture, with business services expanding and hospitality-related activities declining.

Information And Communication Leads Sector Growth

Compared with August 2025, services production increased by 5.9% in the euro area and 5.8% across the EU in information and communication. Transportation and storage also recorded growth, rising by 2.1% and 1.9%, respectively.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Real estate activities increased by 1.6% in the euro area and 1.1% in the EU. Professional, scientific and technical activities grew by 1% in both areas, while administrative and support services advanced by 1.1% and 1.3%.

Accommodation and food services was the only major sector to record an annual decline, falling by 0.1% in both the euro area and the EU.

The monthly figures were more mixed. Information and communication remained the strongest performer, increasing by 1.2% in the euro area and 1% across the EU. Real estate activities rose by 0.4% and 0.9%, respectively, while transportation and storage edged up 0.1% in the euro area but declined by 0.2% in the EU.

Administrative and support services recorded modest gains of 0.2% in the euro area and 0.1% in the EU. Accommodation and food services fell by 0.3% and 0.4%, while professional, scientific and technical activities declined by 0.8% and 0.9%, respectively.

Slovakia And Greece Record Strongest Annual Growth

Romania recorded the largest monthly increase in services production, at 5.2%, followed by Malta at 1.8% and Portugal at 1.7%. Luxembourg experienced the steepest decline, with output falling by 5.1%, followed by Bulgaria at 2.3% and Denmark at 1.9%.

On an annual basis, Slovakia led with growth of 10%, followed by Greece at 9.3% and Malta at 7.5%. Hungary recorded the weakest performance, with services production declining by 5.6%. Denmark fell by 5.3%, while Italy recorded a smaller decrease of 0.3%.

Cyprus Sees Growth In Business Services But Weakness In Hospitality

Cyprus’ latest figures show a similar divide between expanding business services and weaker hospitality-related activities. According to the Statistical Service of Cyprus (Cystat), professional, scientific and technical activities recorded the strongest annual growth among the covered sectors in the second quarter of 2026, increasing by 3.4%.

Transportation and storage and information and communication both grew by 2.1%, while real estate activities rose by 1.6%. In contrast, accommodation and food services declined by 3.1% year on year, and administrative and support services fell by 2.2%.

First-half results were more favourable for several sectors. Between January and June, professional, scientific and technical activities grew by 3.5%, transportation and storage by 2.8%, real estate by 2.1% and information and communication by 1.3%.

Nevertheless, administrative and support services contracted by 1% over the six-month period, while accommodation and food services declined by 0.7%.

How Cyprus’ Figures Differ From Eurostat’s Data

The Eurostat and Cystat figures measure different aspects of economic activity and are not directly comparable. Eurostat’s services production index tracks changes in the volume of output, whereas Cystat’s Turnover Value Index for Services and Transport measures the value of sales at current prices.

The reporting periods also differ: Eurostat’s figures cover August, while the cited Cypriot data relate to the second quarter and first half of 2026.

Cystat transmits services production data to Eurostat but does not yet publish a separate national production index. Turnover figures therefore remain the main publicly available national indicator for the sector.

Taken together, the data point to continued growth in several of Cyprus’ business-oriented services, alongside persistent pressure on accommodation, food and administrative support activities.

Breaking news