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economic outlook

economic outlook fitch ratings agency

Cyprus’ Economic Outlook Shifting from Stable to Positive

Fitch Ratings has revised Cyprus’ longterm outlook from stable to positive, indicating confidence in the country’s economic resilience, fiscal management, and improvements in the banking sector. The agency predicts a government budget surplus and increasing GDP, with a decrease in nonperforming loans contributing to financial stability, although regional geopolitical risks remain a concern.

economic outlook budget surplus

A Bright Economic Outlook for 2024

The economic outlook for Cyprus in 2024 is positive, with a projected 2.2% surplus in the state budget. Key priorities include tax reform, ending energy isolation, business competitiveness, modernization, and reforms in healthcare and governance. Efforts to maintain Cyprus’ international reputation and collaboration with experts on sanctions are also highlighted.

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