Cyprus’s economic outlook is looking up, with the Central Bank forecasting GDP growth of 3% in 2024, increasing to 3.1% in 2025 and 3.2% in 2026. Strong domestic demand, private investments, and service exports in technology and shipping are driving this growth, with unemployment expected to fall to 5.7% and inflation to remain steady at 2.1% in 2024.
The European Commission’s report reveals a positive outlook for Cyprus’s economy, with projected GDP growth and decreased inflation. The report also warns of potential risks due to the island’s economic ties to global markets.
Cyprus consistently allocates 6% of its Gross Domestic Product (GDP) to healthcare spending, prioritizing the wellbeing of its citizens despite the European Union average dipping to 8.1%. This stable financial commitment reflects the nation’s strategic choice to maintain accessible and highquality healthcare services as a pillar of societal stability and prosperity.
