Cyprus revises economic growth data amid positive 2025 performance

The Cyprus Statistical Service has released revised National Accounts data indicating a robust economic performance. The growth rate for 2025 was finalized at 4.8%, significantly higher than the initial projection of 3.8%. Significant upward revisions were also applied to previous years, with growth rates adjusted to 6.6% for 2024 (up from 3.9%), 6.0% for 2023 (up from 3.6%), and 8.9% for 2022 (up from 8.7%). According to government spokesman Konstantinos Letymbiotis, these figures place Cyprus among the top two fastest-growing EU economies for the third consecutive year, with a 2025 growth rate more than triple the EU average of 1.4%.

Driving factors for this growth included sectors such as wholesale and retail trade, information and communications, professional services, and tourism. In the second quarter of 2026, the economy grew by 3.3% year-on-year. Finance Minister Makis Keravnos noted that while these metrics highlight the economy's resilience, the government faces ongoing challenges from global energy price instability. Efforts are currently focused on price containment rather than aggressive reductions, with authorities monitoring existing support measures and planning to request greater flexibility from the EU regarding fiscal rules to manage external shocks.