NICOSIA, Cyprus — President Nikos Christodoulides praised the government’s economic policy during a Cabinet meeting Monday focused on approving the 2026 state budget.
In his opening remarks, Christodoulides emphasized that fostering a strong, growth-oriented economy remains a top priority.
He described the proposed budget as surplus-driven, stable, and forward-looking, noting a 4.7% increase in development spending and a 6.7% rise in social benefits.
He also highlighted the continued decline in public debt, which is projected to fall to 52.9% of GDP in 2026—among the lowest in the eurozone. The country’s growth rate is expected to reach 3.1%, with unemployment forecasted at 4.6%.
Christodoulides reiterated the government’s commitment to responsible economic management across all sectors.