Ministries Presenting Flagship Actions For 2025 State Budget

Government Spokesman Konstantinos Letymbiotis said that during the 12 July Council of Ministers meeting, the Ministries began presenting their flagship actions that will be included in the 2025 state budget.

In statements after the Cabinet meeting, Letymbiotis said it was the second special meeting of the Council of Ministers that took place intending to coordinate the preparation of the state budget for 2025. The first special session of the Council of Ministers for the preparation of the state budget for 2025 took place at the start of last week.

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The goal, he added, is for the second annual state budget to clearly capture the vision, but also the essence of the governance programme of President Christodoulides.

Letymbiotis said that each Ministry will present its action programmes – just as they did last year – noting that at the beginning of next year, the President will present, in a special event, the actions that will be implemented in 2025.

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Cyprus Services Sector Shows Robust Performance In 2025 As Tourism, Digital Innovation, And Shipping Surge

by THEFUTURE.TEAM

April 6, 2026

The Employers and Industrialists Federation (OEV) reported growth across Cyprus’ services sector in 2025, with increases recorded in tourism, professional services and administrative activities. Data show continued expansion across multiple sub-sectors, reinforcing the role of services in economic output and employment.

Service Sector Leadership

Accommodation and food services grew by 9.5%, while administrative and support activities increased by 7.4%. Professional, scientific and technical activities rose by 4.6%, followed by information and communication at 4.3%. Transport and storage recorded growth of 2.8%, while real estate activity increased by 0.4%. These figures indicate broad-based expansion across service industries.

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A Remarkable Tourism Surge

Tourist arrivals reached 4,534,073 in 2025, marking a 12.2% increase year-on-year. December arrivals totaled 156,959, up 18% compared with the same period a year earlier. Tourism continues to support revenue generation and seasonal demand across the economy. Growth in visitor numbers contributes to activity in hospitality and related sectors.

Driving Digital Transformation

OEV is supporting digital adoption through initiatives such as the DiGiNN Cyprus Digital Innovation Hub. The program focuses on improving business processes, skills development and technology integration. Additional efforts include the establishment of a Digital Transformation and Innovation Committee and international engagement through business missions. These actions support the adoption of digital tools across sectors.

Resilient Shipping Sector

Shipping accounted for about 7% of Cyprus’s GDP in 2025, remaining a key component of the economy. The Cyprus Registry recorded its highest tonnage in 20 years, with an increase of nearly 20%. Fleet growth strengthens Cyprus’ position within European Union shipping registries and global maritime markets. The sector continues to contribute to economic stability.

Strengthening The Economic Foundation

OEV is organizing conferences, workshops and exhibitions to support business development across sectors. These initiatives focus on improving operational practices and industry collaboration. Continued investment in services and digital infrastructure is expected to support economic performance.

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