Cyprus economic growth momentum weakens in April 2026

The Composite Leading Economic Index (CCLEI) for Cyprus, compiled by the Economics Research Centre of the University of Cyprus, recorded an annual decline of 1.72% in April 2026. This downward trend marks the second consecutive month of decline, following a marginal drop in March and an annual growth of 0.82% in February. The decline is attributed to geopolitical tensions, external economic pressures, and a worsened economic climate in both the euro area and Cyprus compared to the previous year. Rising Brent crude oil prices and a significant decrease in tourism arrivals, linked to flight cancellations and potential fuel shortages, negatively impacted the index. Conversely, positive contributions to the index were recorded from temperature-adjusted electricity production, real estate sales, credit card transactions, and retail sales volume. The Economics Research Centre notes that these results suggest a weakening of short-term economic momentum for the country. The index reflects a complex environment where internal growth drivers are currently struggling against external headwinds.