President Nikos Christodoulides discussed ways to achieve sustainable growth, as well as opportunities and challenges facing the economy amid political instability and the war in the Middle East, during a meeting with business leaders in Nicosia.
Speaking at a roundtable discussion, the president said the government has demonstrated in practice that it can manage crises and absorb negative impacts.
On energy costs, he said efforts continue within a defined national energy strategy, with emphasis on expanding renewable energy sources.
Christodoulides also expressed satisfaction that Cyprus is recording one of the highest growth rates in Europe, has been upgraded to the “A” category by international rating agencies, and—for the first time since 2008—is experiencing full employment, with unemployment below 5 percent. He added that public debt has fallen to about 55 percent.