Minister Makis Keravnos reports on Cyprus economic stability

On June 23, 2026, Finance Minister Makis Keravnos addressed the annual general meeting of the Association of Banks in Cyprus. Representing the President, he stated that the nation has entered a period of economic stability and growth. The minister highlighted that the Cypriot economy achieved a growth rate of 3.8% in 2025. Projections for 2026 remain positive according to the Ministry. Regarding the banking sector, Keravnos described the system as robust and well-capitalized. He noted that the common equity tier 1 capital ratio stands at 25.1%. This figure is reported to be significantly higher than the minimum requirements mandated by European standards. The minister emphasized that financial stability remains a primary pillar for the country's economic policy.