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Minister Of Finance Urges Greek Businesses To Invest In Cyprus

by THEFUTURE.TEAM

January 29, 2025

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.

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Call for Reform: Cyprus Faces New Challenges with Emerging Tobacco Products

by News Editor

May 31, 2025

In the face of a burgeoning variety of tobacco products, existing smoking laws in Cyprus are struggling to keep pace, as highlighted by Christos Minas, the president of the Cyprus National Addictions Authority (AAEK). On World No-Tobacco Day, there was a push for legislative reforms to comprehensively cover all tobacco forms, including non-nicotine alternatives.

Addressing Rising Trends with Effective Policies

Minas emphasized the surge in popularity of e-cigarettes and flavored products, particularly among the youth. The proposed legal updates aim to enhance enforcement efficiency against these emerging trends.

In collaboration with the World Health Organization’s (WHO) framework, the AAEK has established the first set of national guidelines for smoking cessation in Cyprus, crafting prevention and treatment strategies based on robust scientific evidence.

Educating Youth and Public Awareness Initiatives

Efforts are underway to raise awareness, with informative materials distributed to secondary schools across Cyprus. A public event in Nicosia highlighted the state’s ongoing commitment, providing carbon monoxide testing and expert advice on new tobacco products.

Recent data from the Cyprus general population survey 2023 indicates that 38% of smokers have used e-cigarettes recently, and the smoking initiation age remains at 18.

A Glimpse into Youth Smoking Patterns

According to the latest European school survey, 14% of Cypriot students aged 15-16 reported smoking traditional cigarettes last month. Although this rate is declining, Cyprus still ranks high in Europe for e-cigarette and hookah use among students.

The concern is global, with WHO reports showing over 37 million children aged 13-15 engage in tobacco use, driven by aggressive marketing in loosely regulated environments.

The urgency for reform is clear: before these trends solidify, proactive measures are necessary to protect future generations from potentially hazardous habits.