Cypriot Finance Minister presents six-month economic report

Cypriot Finance Minister Makis Keravnos presented the six-month fiscal policy report to the Council of Ministers on Tuesday, August 25, 2026. The assessment highlights the resilience of the national economy and stable growth rates despite ongoing geopolitical uncertainty and the energy crisis.

Key figures from the report show that inflation rose from 0.5% in January to 3.1% in June, with expectations that it will reach approximately 4% by the end of the year. Minister Keravnos expressed confidence that the current fiscal surplus will allow the government to maintain its social policy, which is intended to mitigate the effects of high prices and inflationary pressures. Addressing media queries regarding European Commission guidelines, Keravnos noted that state measures to combat inflation must remain targeted and short-term.

The government continues to monitor global economic trends to ensure fiscal sustainability and plans to use the report as a primary benchmark for upcoming economic policy decisions.