Cypriot Minister of Finance, Mr. Makis Keravnos, addressed the “3 Business Presentations of Cyprus in Greece” event in Athens on January 29, 2025, where he highlighted the importance of strengthening economic ties between Cyprus and Greece. He emphasized the long-standing historical and economic connections between the two nations and their resilience in the face of geopolitical challenges.
Mr. Keravnos pointed out Cyprus’ strategic position as a bridge between Europe, Asia, and Africa, noting the dynamic growth of the Cypriot economy. He highlighted key sectors such as tourism, financial services, shipping, and technology as crucial to the country’s development. In his speech, the Minister noted that Cyprus achieved a growth rate of 3.7% in 2024, surpassing the EU average. Unemployment fell below 5%, and inflation dropped from 3.5% to 1.8%. Cyprus also recorded a primary surplus of 5%, which will contribute to reducing public debt below 60% of GDP by 2026.
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The Minister called on Greek businesses to explore opportunities in Cyprus, underscoring the government’s commitment to attracting international companies and investment funds. He highlighted particular focus on sectors such as renewable energy, health, education, and the defense industry, which he described as a promising area for collaboration between Greek and Cypriot businesses.
Mr. Keravnos also discussed ongoing reforms, including strengthening the financial system through the Cyprus Equity Fund and the creation of the National Development Agency, as well as tax reforms aimed at fostering growth. He concluded by emphasizing Cyprus’ dedication to enhancing its international reputation, ensuring a stable business environment, and creating favorable conditions for investors.
