Cyprus outlines 2027 fiscal strategy and credit reporting milestones

Cyprus has announced its economic objectives for 2027, projecting a GDP growth of 2.9 percent, with the potential to exceed 3 percent. Finance Minister Keravnos confirmed that the 2027 state budget, slated for parliamentary submission in December, is approximately €470 million higher than the 2026 version. The government anticipates a fiscal surplus of 2.8 percent of GDP, up from 2.3 percent in 2026, while maintaining low unemployment levels aligned with full employment status.

In tandem with these fiscal plans, the Artemis Credit Bureau has successfully integrated the new Credit Score system as part of the Artemis Data Exchange Mechanism, which became operational on July 15, 2026. This system provides numerical values to borrowers based on their credit behavior to bolster financial sector infrastructure. Meanwhile, recent bilateral talks with Greece focused on strengthening economic diplomacy, maritime cooperation, and the implementation of a February Memorandum of Understanding regarding shipping industry competitiveness and the green transition.