Economic developments and fiscal outlook in Cyprus

Cyprus has reported significant updates across its financial and tourism sectors in mid-September 2026. On July 15, the Artemis Credit Bureau launched a new credit scoring system to enhance financial infrastructure. Meanwhile, Finance Minister Keravnos announced that the 2027 budget will increase by approximately €470 million compared to 2026, targeting a 2.9 percent growth rate and a 2.8 percent fiscal surplus. These economic updates follow a period of stabilization, with the CCLEI recording a slight year-on-year increase of 0.02 percent in August 2026.

Tourism statistics for August 2026 show 581,880 arrivals, a decline compared to the same month in 2025, bringing the total for the first eight months of the year to 2,820,649, which is 7 percent lower than the previous year. Official discussions are currently focused on strengthening maritime cooperation, following a February memorandum of understanding, and the implementation of digital transformation in healthcare. Minister Keravnos is participating in EU meetings this week to discuss productivity and competitiveness, while the government prepares to submit the 2027 budget to the House of Representatives for approval in December.