Presidential Engagement With Business Leaders
Nikos Christodoulides, President of Cyprus, participated in a roundtable with business leaders at the 16th Nicosia Economic Congress. Discussions focused on economic growth, investment conditions, and geopolitical risks linked to instability in the Middle East. Participants examined sustainable development priorities alongside current challenges affecting the Cypriot economy.
Navigating Uncertainty In A Volatile Global Landscape
Participants addressed the impact of geopolitical uncertainty on economic activity while highlighting investment opportunities within Cyprus. The discussion also focused on the role of government in maintaining stable and predictable business conditions. Christodoulides said the global environment is becoming more decentralized and uncertain, adding that public expectations center on stability, support, and policy consistency.
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Proven Crisis Management And Clear Strategic Vision
Christodoulides said the government has managed multiple external challenges since March 2023 while maintaining economic stability. Policy coordination and consistent decision-making were cited as key factors supporting resilience. He added that government actions must follow a clear strategy, remain coherent, and be communicated effectively rather than driven by short-term political cycles.
Economic Progress And Fiscal Prudence
Cyprus recorded one of the highest growth rates in Europe over the past three years, according to government data. The country regained an A credit rating, reduced unemployment to below 5%, and reached full employment conditions for the first time since 2008. Public debt declined to around 55%, lowering borrowing costs and supporting increased investment across the economy.
Investing In The Future
Government policy includes continued investment in education, healthcare, and housing as part of broader economic planning. These sectors are prioritized due to their direct impact on living standards and long-term development. Officials said the approach focuses on maintaining stability while improving structural conditions in the economy.
Addressing The Energy Challenge
Energy costs remain a key issue amid broader external pressures on the economy. Christodoulides said the government is implementing a defined energy strategy focused on long-term sustainability. Plans include expanding renewable energy capacity to reduce costs and strengthen energy security.
