FAMAGUSTA GAZETTE – German rating agency Scope Ratings has affirmed a stable outlook for the Cypriot economy, maintaining long-term bonds in local and foreign currency, as well as unsecured bonds, at grade A- with a Stable Outlook.
The report highlights Cyprus’ strong economic fundamentals and high growth potential, noting it as one of the fastest-growing economies in the eurozone.
The country’s steady fiscal consolidation, commitment to structural reforms, and ongoing financial sector improvements are key factors supporting the rating.
President Nikos Christodoulides defended Cyprus’ economic performance in a recent interview with ANT1. “In Europe, all these indicators—some of which are approached mockingly in Cyprus—demonstrate a strong economy with a growth rate and unemployment below 5%,” he said.
During the interview, Christodoulides addressed recent criticism from the opposition, emphasizing that there is no risk to the 13th salary and highlighting reforms his government has implemented. The president also launched a sharp critique of AKEL, signaling continued political tension.