Finance Minister Makis Keravnos welcomed a new upgrade to Cyprus’ credit rating, after Scope Ratings raised the country’s long‑term rating from A‑ to A and revised its outlook from stable to positive.
Keravnos said the decision reflects continued confidence in the government’s economic policy, noting that the upgrade comes from an agency that does not maintain a contractual relationship with the Republic. Scope also affirmed Cyprus’ short‑term ratings in both local and foreign currency.
He said the series of recent upgrades placing Cyprus firmly in the “A” investment category across major agencies demonstrates both the country’s creditworthiness and the underlying strength of the economy.
He pointed to the successful issuance of a new 10‑year government bond as evidence of strong market demand.
Keravnos said the government will continue pursuing policies aimed at stable and sustainable growth, with a focus on fiscal discipline, financial stability and the steady reduction of public debt as a share of GDP. Lower debt levels, he added, create space for targeted measures to support citizens, particularly vulnerable groups.